Daily Pivots: (S1) 1.2947; (P) 1.3009; (R1) 1.3061; More…

GBP/USD is staying in corrective pattern from 1.3514. On the downside, sustained break of 38.2% retracement of 1.1958 to 1.3514 at 1,2920 will pave the way to 61.8% retracement at 1.2552. On the upside, break of 1.3209 should bring retest of 1.3514 high.

In the bigger picture, rise from 1.1958 medium term bottom is expected to extend higher to retest 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

Daily Pivots: (S1) 1.2947; (P) 1.3009; (R1) 1.3061; More…

Outlook in GBP/USD remains unchanged as corrective pattern from 1.3514 is still in progress. On the downside, sustained break of 38.2% retracement of 1.1958 to 1.3514 at 1,2920 will pave the way to 61.8% retracement at 1.2552. On the upside, break of 1.3209 should bring retest of 1.3514 high.

In the bigger picture, rise from 1.1958 medium term bottom is expected to extend higher to retest 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

Daily Pivots: (S1) 1.2966; (P) 1.3007; (R1) 1.3072; More…

GBP/USD’s corrective pattern from 1.3514 is still in progress. On the downside, sustained break of 38.2% retracement of 1.1958 to 1.3514 at 1,2920 will pave the way to 61.8% retracement at 1.2552. On the upside, break of 1.3209 should bring retest of 1.3514 high.

In the bigger picture, rise from 1.1958 medium term bottom is expected to extend higher to retest 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

Daily Pivots: (S1) 1.2966; (P) 1.3007; (R1) 1.3072; More…

No change in GBP/USD’s outlook as corrective pattern from 1.3514 is extending. On the downside, sustained break of 38.2% retracement of 1.1958 to 1.3514 at 1,2920 will pave the way to 61.8% retracement at 1.2552. On the upside, break of 1.3209 should bring retest of 1.3514 high.

In the bigger picture, rise from 1.1958 medium term bottom is expected to extend higher to retest 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

Daily Pivots: (S1) 1.2927; (P) 1.3055; (R1) 1.3128; More…

GBP/USD’s corrective pattern from 1.3514 is still unfolding. On the downside, sustained break of 38.2% retracement of 1.1958 to 1.3514 at 1,2920 will pave the way to 61.8% retracement at 1.2552. On the upside, break of 1.3209 should bring retest of 1.3514 high.

In the bigger picture, rise from 1.1958 medium term bottom is expected to extend higher to retest 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

Daily Pivots: (S1) 1.2927; (P) 1.3055; (R1) 1.3128; More…

Intraday bias in GBP/USD remains neutral first. On the upside, above 1.3209 will turn bias to the upside for 1.3284 resistance. Break will pave the way to retest 1.3514 high. On the downside, break of 1.2977 will bring a test on 1.2905 support next. Overall, price actions form 1.3514 are seen as developing into a corrective pattern, which might extend further, or even deeper.

In the bigger picture, rise from 1.1958 medium term bottom is expected to extend higher to retest 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

Daily Pivots: (S1) 1.3125; (P) 1.3168; (R1) 1.3251; More…

Intraday bias in GBP/USD is turned neutral with today’s sharp fall. On the upside, above 1.3209 will turn bias to the upside for 1.3284 resistance. Break will pave the way to retest 1.3514 high. On the downside, break of 1.2977 will bring a test on 1.2905 support next. Overall, price actions form 1.3514 are seen as developing into a corrective pattern, which might extend further, or even deeper.

In the bigger picture, rise from 1.1958 medium term bottom is expected to extend higher to retest 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

Daily Pivots: (S1) 1.3125; (P) 1.3168; (R1) 1.3251; More…

Intraday bias in GBP/USD remains on the upside for 1.3284 resistance. Break will target 1.5314 high. On the downside, break of 1.3139 minor support will turn intraday bias neutral first. Overall, price actions form 1.3514 are seen as developing into a corrective pattern, which might extend further.

In the bigger picture, rise from 1.1958 medium term bottom is expected to extend higher to retest 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

GBP/USD’s strong rebound and break of 1.3174 resistance last week suggests that sideway pattern from 1.3284 has completed at 1.2977. Initial bias is back on the upside this week for 1.3284 first. Break will target 1.5314 high. On the downside, break of 1.3139 minor support will turn intraday bias neutral first.

In the bigger picture, rise from 1.1958 medium term bottom is expected to extend higher to retest 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

In the longer term picture, it’s still unsure whether long term down trend form 2.1161 (2007 high) has completed at 1.1946 already. Focus is immediately on 55 month EMA (now at 1.3507) and sustained break will be the first serious sign of long term reversal. Further break of trend line resistance (now at 1.4045) will be another signal. Focus would then be turned to 1.4376 key resistance for confirmation.

Daily Pivots: (S1) 1.3009; (P) 1.3060; (R1) 1.3141; More…

GBP/USD is still bounded in range of 1.2977/3174 and intraday bias remains neutral first. On the downside, break of 1.2977 will target 1.2905 low. Break there will extend the correction from 1.3514. On the upside, break of 1.3174 resistance will turn bias to the upside for 1.3284 resistance instead.

In the bigger picture, rise from 1.1958 medium term bottom is expected to extend higher to retest 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

Daily Pivots: (S1) 1.3009; (P) 1.3060; (R1) 1.3141; More…

Intraday bias in GBP/USD remains neutral as it’s staying in sideways consolidation On the downside, break of 1.2977 will target 1.2905 low. Break there will extend the correction from 1.3514. On the upside, break of 1.3174 resistance will turn bias to the upside for 1.3284 resistance instead.

In the bigger picture, rise from 1.1958 medium term bottom is expected to extend higher to retest 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

Daily Pivots: (S1) 1.2995; (P) 1.3012; (R1) 1.3035; More…

GBP/USD rebounds strongly today but it’s held below 1.3174 resistance so far. Intraday bias is turned neutral first. On the downside, break of 1.2977 will target 1.2905 low. break there will extend the correction from 1.3514. On the upside, break of 1.3174 resistance will turn bias to the upside for 1.3284 resistance instead.

In the bigger picture, rise from 1.1958 medium term bottom is expected to extend higher to retest 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

Daily Pivots: (S1) 1.2995; (P) 1.3012; (R1) 1.3035; More…

No change in GBP/USD’s outlook and intraday bias stays mildly on the downside for 1.2905 support. Break there will resume whole correction from 1.3514. Next downside target will be 61.8% projection of 1.3514 to 1.2905 from 1.3174 at 1.2798. On the upside, break of 1.3174 resistance will turn bias to the upside for 1.3284 resistance instead.

In the bigger picture, rise from 1.1958 medium term bottom is expected to extend higher to retest 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

Daily Pivots: (S1) 1.2979; (P) 1.3022; (R1) 1.3069; More…

Intraday bias in GBP/USD remains on the downside for 1.2905 support. Break there will resume whole correction from 1.3514. Next downside target will be 61.8% projection of 1.3514 to 1.2905 from 1.3174 at 1.2798. On the upside, break of 1.3174 resistance will turn bias to the upside for 1.3284 resistance instead.

In the bigger picture, rise from 1.1958 medium term bottom is expected to extend higher to retest 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

Daily Pivots: (S1) 1.2979; (P) 1.3022; (R1) 1.3069; More…

Intraday bias in GBP/USD stays on the downside. Break of 1.2905 support will resume whole correction from 1.3514. Next downside target will be 61.8% projection of 1.3514 to 1.2905 from 1.3174 at 1.2798. On the upside, break of 1.3174 resistance will turn bias to the upside for 1.3284 resistance instead.

In the bigger picture, rise from 1.1958 medium term bottom is expected to extend higher to retest 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

Daily Pivots: (S1) 1.3030; (P) 1.3067; (R1) 1.3094; More…

Intraday bias in GBP/USD remains on the downside for 1.2905 support. Break there will resume whole correction from 1.3514. Next downside target will be 61.8% projection of 1.3514 to 1.2905 from 1.3174 at 1.2798. On the upside, break of 1.3174 resistance will turn bias to the upside for 1.3284 resistance instead.

In the bigger picture, rise from 1.1958 medium term bottom is expected to extend higher to retest 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

Daily Pivots: (S1) 1.3030; (P) 1.3067; (R1) 1.3094; More…

GBP/USD’s fall from 1.3174 extends lower with break of 1.3034 minor support. Current development suggests that correction from 1.3514 is still in progress. Intraday bias is back on the downside for 38.2% retracement of 1.1958 to 1.3514 at 1.2920. On the upside, break of 1.3174 will turn bias to the upside for 1.3284 resistance instead.

In the bigger picture, rise from 1.1958 medium term bottom is expected to extend higher to retest 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

Daily Pivots: (S1) 1.3027; (P) 1.3101; (R1) 1.3144; More…

Intraday bias in GBP/USD remains neutral and outlook is unchanged. It’s staying in consolidation from 1.3514. On the upside, above 1.3174 will target 1.3284 resistance first. Break will target a test on 1.3514 high. On the downside, below 1.3034 will bring retest of 38.2% retracement of 1.1958 to 1.3514 at 1.2920.

In the bigger picture, rise from 1.1958 medium term bottom is expected to extend higher to retest 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

Daily Pivots: (S1) 1.3027; (P) 1.3101; (R1) 1.3144; More…

Intraday bias in GBP/USD remains neutral for the moment. On the upside, above 1.3174 will target 1.3284 resistance first. Break will target a test on 1.3514 high. On the downside, below 1.3034 will bring retest of 38.2% retracement of 1.1958 to 1.3514 at 1.2920.

In the bigger picture, rise from 1.1958 medium term bottom is expected to extend higher to retest 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

GBP/USD recovered to 1.3174 last week but lost momentum since then. Initial bias is neutral this week first. On the upside, above 1.3174 will target 1.3284 resistance first. Break will target a test on 1.3514 high. On the downside, below 1.3034 will bring retest of 38.2% retracement of 1.1958 to 1.3514 at 1.2920.

In the bigger picture, rise from 1.1958 medium term bottom is expected to extend higher to retest 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

In the longer term picture, it’s still unsure whether long term down trend form 2.1161 (2007 high) has completed at 1.1946 already. Focus is immediately on 55 month EMA (now at 1.3507) and sustained break will be the first serious sign of long term reversal. Further break of trend line resistance (now at 1.4045) will be another signal. Focus would then be turned to 1.4376 key resistance for confirmation.