Daily Pivots: (S1) 1.2288; (P) 1.2322; (R1) 1.2369; More….

GBP/USD is staying in consolidation in range of 1.2204/2413 and intraday bias remains neutral. On the downside, below 1.2204 will revive the case that rebound form 1.1958 has completed at 1.2582. Intraday bias will be turned back to the downside for retesting 1.1958. On the upside, above 1.2413 will bring stronger rebound to 1.2582 resistance instead.

In the bigger picture, we’d remain cautious on medium term bottoming around 1.1946 (2016 low). Sustained trading above 55 week EMA (now at 1.2727) will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance. Nevertheless, decisive break of 1.1946 will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.

GBP/USD dropped to 1.2204 last week but quickly recovered. As there was no clear follow through buying, initial bias remains neutral this week first. On the downside, below 1.2204 will revive the case that rebound form 1.1958 has completed at 1.2582. Intraday bias will be turned back to the downside for retesting 1.1958. On the upside, above 1.2413 will bring stronger rebound to 1.2582 resistance instead.

In the bigger picture, we’d remain cautious on medium term bottoming around 1.1946 (2016 low). Sustained trading above 55 week EMA (now at 1.2727) will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance. Nevertheless, decisive break of 1.1946 will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.

In the longer term picture, corrective rebound from 1.1946 (2016 low) was rejected by 55 month EMA. Long term outlook remains bearish. Firm break of 1.1946 will indicate resumption of down trend from 2.1161 (2007 high). Next target is 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.

Daily Pivots: (S1) 1.2259; (P) 1.2336; (R1) 1.2406; More….

Intraday bias in GBP/USD is turned neutral as recovery lost momentum after hitting 1.2413. On the downside, below 1.2204 will revive the case that rebound form 1.1958 has completed at 1.2582. Intraday bias will be turned back to the downside for retesting 1.1958. On the upside, above 1.2413 will bring stronger rebound to 1.2582 resistance instead.

In the bigger picture, we’d remain cautious on medium term bottoming around 1.1946 (2016 low). Sustained trading above 55 week EMA (now at 1.2724) will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance. Nevertheless, decisive break of 1.1946 will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.

Daily Pivots: (S1) 1.2259; (P) 1.2336; (R1) 1.2406; More….

Intraday bias in GBP/USD remains mildly on the upside for retesting 1.2582 resistance. Break will resume whole rebound from 1.1958. However, on the downside, break of 1.2204 will turn bias back to the downside for 1.1946/58 key support zone next.

In the bigger picture, we’d remain cautious on medium term bottoming around 1.1946 (2016 low). Sustained trading above 55 week EMA (now at 1.2724) will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance. Nevertheless, decisive break of 1.1946 will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.

Daily Pivots: (S1) 1.2243; (P) 1.2283; (R1) 1.2340; More….

GBP/USD’s break of 1.2346 minor resistance dampens our original bearish view and suggests that pull back from 1.2582 has completed. Intraday bias is turned back to the upside. Break of 1.2582 will resume the rebound from 1.1958. On the downside, though, break of 1.2204 will turn bias back to the downside for 1.1946/58 key support zone next.

In the bigger picture, we’d remain cautious on medium term bottoming around 1.1946 (2016 low). Sustained trading above 55 week EMA (now at 1.2724) will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance. Nevertheless, decisive break of 1.1946 will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.

Daily Pivots: (S1) 1.2243; (P) 1.2283; (R1) 1.2340; More….

With 1.2346 minor resistance intact, further decline is expected in GBP/USD. Corrective rebound from 1.1958 should have completed at 1.2582. Further fall should be seen to retest 1.1946/58 key support zone next. However, break of 1.2346 will turn bias back to the upside for retesting 1.2582.

In the bigger picture, we’d remain cautious on medium term bottoming around 1.1946 (2016 low). Sustained trading above 55 week EMA (now at 1.2724) will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance. Nevertheless, decisive break of 1.1946 will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.

Daily Pivots: (S1) 1.2227; (P) 1.2283; (R1) 1.2360; More….

Intraday bias in GBP/USD remains on the downside as fall from 1.2582 is in progress to retest 1.1946/58 key support zone next. On the upside, above 1.2346 minor resistance will turn intraday bias neutral first. But risk will now stay on the downside as long as 1.2582 resistance holds.

In the bigger picture, we’d remain cautious on medium term bottoming around 1.1946 (2016 low). Sustained trading above 55 week EMA (now at 1.2724) will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance. Nevertheless, decisive break of 1.1946 will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.

Daily Pivots: (S1) 1.2227; (P) 1.2283; (R1) 1.2360; More….

Intraday bias in GBP/USD remains on the downside at this point. Rebound from 1.1958 should have completed at 1.2582. Deeper decline should be seen o retest 1.1946/58 key support zone next. On the upside, above 1.2346 minor resistance will turn intraday bias neutral first. But risk will now stay on the downside as long as 1.2582 resistance holds.

In the bigger picture, we’d remain cautious on medium term bottoming around 1.1946 (2016 low). Sustained trading above 55 week EMA (now at 1.2724) will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance. Nevertheless, decisive break of 1.1946 will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.

Daily Pivots: (S1) 1.2267; (P) 1.2306; (R1) 1.2337; More….

GBP/USD drops further to as low as 1.2224 so far today and intraday bias remains on the downside. Rebound from 1.1958 should have completed at 1.2582. Deeper decline should be seen o retest 1.1946/58 key support zone next. On the upside, above 1.2346 minor resistance will turn intraday bias neutral first. But risk will now stay on the downside as long as 1.2582 resistance holds.

In the bigger picture, we’d remain cautious on medium term bottoming around 1.1946 (2016 low). Sustained trading above 55 week EMA (now at 1.2724) will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance. Nevertheless, decisive break of 1.1946 will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.

Daily Pivots: (S1) 1.2267; (P) 1.2306; (R1) 1.2337; More….

Intraday bias in GBP/USD stays mildly on the downside for the moment. Rebound from 1.1958 should have completed at 1.2582. Firm break of 1.2283 will bring retest of 1.1946 key support level. On the upside, break of 1.2582 will resume the rebound to 61.8% retracement of 1.3381 to 1.1958 at 1.2837.

In the bigger picture, we’d remain cautious on medium term bottoming around 1.1946 (2016 low). Sustained trading above 55 week EMA (now at 1.2742) will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance. Nevertheless, decisive break of 1.1946 will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.

Daily Pivots: (S1) 1.2262; (P) 1.2299; (R1) 1.2328; More….

No change in GBP/USD’s outlook and intraday bias remains on the downside. Rebound from 1.1958 should have completed at 1.2582. Firm break of 1.2283 will bring retest of 1.1946 key support level. On the upside, break of 1.2582 will resume the rebound to 61.8% retracement of 1.3381 to 1.1958 at 1.2837.

In the bigger picture, we’d remain cautious on medium term bottoming around 1.1946 (2016 low). Sustained trading above 55 week EMA (now at 1.2742) will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance. Nevertheless, decisive break of 1.1946 will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.

Daily Pivots: (S1) 1.2262; (P) 1.2299; (R1) 1.2328; More….

Intraday bias in GBP/USD remains on the downside at this point. Rebound from 1.1958 should have completed at 1.2582. Firm break of 1.2283 will bring retest of 1.1946 key support level. On the upside, break of 1.2582 will resume the rebound to 61.8% retracement of 1.3381 to 1.1958 at 1.2837.

In the bigger picture, we’d remain cautious on medium term bottoming around 1.1946 (2016 low). Sustained trading above 55 week EMA (now at 1.2742) will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance. Nevertheless, decisive break of 1.1946 will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.

GBP/USD’s fall from 1.2582 extended lower last week and breached 1.2283 support. Rebound from 1.1958 could have completed at 1.2582. Initial bias is mildly on the downside this week fir retesting 1.1946 key support next. On the upside, break of 1.2582 will resume the rebound to 61.8% retracement of 1.3381 to 1.1958 at 1.2837.

In the bigger picture, we’d remain cautious on medium term bottoming around 1.1946 (2016 low). Sustained trading above 55 week EMA (now at 1.2742) will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance. Nevertheless, decisive break of 1.1946 will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.

In the longer term picture, corrective rebound from 1.1946 (2016 low) was rejected by 55 month EMA. Long term outlook remains bearish. Firm break of 1.1946 will indicate resumption of down trend from 2.1161 (2007 high). Next target is 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.

Daily Pivots: (S1) 1.2290; (P) 1.2335; (R1) 1.2367; More….

GBP/USD’s fall from 1.2582 continues today and focus stays on 1.2283 support. Sustained break will indicate completion of rebound from 1.1958 at 1.2582. Intraday bias will be turned back to the downside or retesting 1.1958 low. On the upside, break of 1.2582 and sustained break of 38.2% retracement of 1.3381 to 1.1958 at 1.2502 will pave the way to 61.8% retracement at 1.2837.

In the bigger picture, we’d remain cautious on medium term bottoming around 1.1946 (2016 low). Sustained trading above 55 week EMA (now at 1.2758) will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance. Nevertheless, decisive break of 1.1946 will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.

Daily Pivots: (S1) 1.2290; (P) 1.2335; (R1) 1.2367; More….

Focus remains on 1.2283 minor support in GBP/USD. Firm break there should indicate completion of rebound from 1.1958 at 1.2582. Intraday bias will be turned back to the downside or retesting 1.1958 low. On the upside, break of 1.2582 and sustained break of 38.2% retracement of 1.3381 to 1.1958 at 1.2502 will pave the way to 61.8% retracement at 1.2837.

In the bigger picture, we’d remain cautious on medium term bottoming around 1.1946 (2016 low). Sustained trading above 55 week EMA (now at 1.2758) will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance. Nevertheless, decisive break of 1.1946 will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.

Daily Pivots: (S1) 1.2299; (P) 1.2399; (R1) 1.2450; More….

Focus is now on 1.2283 minor support in GBP/USD. Break will suggest that rebound from 1.1958 has completed. Intraday bias will be turned back to the downside or retesting 1.1958 low. On the upside, break of 1.2582 and sustained break of 38.2% retracement of 1.3381 to 1.1958 at 1.2502 will pave the way to 61.8% retracement at 1.2837.

In the bigger picture, we’d remain cautious on medium term bottoming around 1.1946 (2016 low). Sustained trading above 55 week EMA (now at 1.2758) will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance. Nevertheless, decisive break of 1.1946 will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.

Daily Pivots: (S1) 1.2299; (P) 1.2399; (R1) 1.2450; More….

Intraday bias in GBP/USD remains neutral at this point, with focus on 1.2283 minor support. Break will suggest that rebound from 1.1958 has completed. Intraday bias will be turned back to the downside or retesting 1.1958 low. On the upside, break of 1.2582 and sustained break of 38.2% retracement of 1.3381 to 1.1958 at 1.2502 will pave the way to 61.8% retracement at 1.2837.

In the bigger picture, we’d remain cautious on medium term bottoming around 1.1946 (2016 low). Sustained trading above 55 week EMA (now at 1.2758) will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance. Nevertheless, decisive break of 1.1946 will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.

Daily Pivots: (S1) 1.2438; (P) 1.2470; (R1) 1.2527; More….

GBP/USD drops notably today but stays above 1.2283 minor support. Intraday bias remains neutral first. On the downside, break of However, break of 1.2283 will suggest that rebound from 1.1958 has completed. Intraday bias will be turned back to the downside or retesting 1.1958 low. On the upside, break of 1.2582 and sustained break of 38.2% retracement of 1.3381 to 1.1958 at 1.2502 will pave the way to 61.8% retracement at 1.2837.

In the bigger picture, we’d remain cautious on medium term bottoming around 1.1946 (2016 low). Sustained trading above 55 week EMA (now at 1.2758) will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance. Nevertheless, decisive break of 1.1946 will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.

Daily Pivots: (S1) 1.2438; (P) 1.2470; (R1) 1.2527; More….

Intraday bias in GBP/USD remains neutral for the moment. On the upside, break of 1.2582 and sustained break of 38.2% retracement of 1.3381 to 1.1958 at 1.2502 will pave the way to 61.8% retracement at 1.2837. However, break of 1.2283 will suggest that rebound from 1.1958 has completed. Intraday bias will be turned back to the downside or retesting 1.1958 low.

In the bigger picture, we’d remain cautious on medium term bottoming around 1.1946 (2016 low). Sustained trading above 55 week EMA (now at 1.2758) will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance. Nevertheless, decisive break of 1.1946 will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.

Daily Pivots: (S1) 1.2401; (P) 1.2446; (R1) 1.2479; More….

GBP/USD drew support from 4 hour 55 EMA and recovered. But upside is limited below 1.2582 temporary top. Intraday bias remains neutral first. On the upside, break of 1.2582 and sustained break of 38.2% retracement of 1.3381 to 1.1958 at 1.2502 will pave the way to 61.8% retracement at 1.2837. However, break of 1.2283 will suggest that rebound from 1.1958 has completed. Intraday bias will be turned back to the downside or retesting 1.1958 low.

In the bigger picture, we’d remain cautious on medium term bottoming around 1.1946 (2016 low). Sustained trading above 55 week EMA (now at 1.2758) will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance. Nevertheless, decisive break of 1.1946 will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.