Daily Pivots: (S1) 1.2317; (P) 1.2349; (R1) 1.2390; More….

A temporary top is in place at 1.2385 in GBP/USD and intraday bias is turned neutral first. Further rise is mildly in favor with 1.2233 minor support intact. Above 1.2385 will target 38.2% retracement of 1.3381 to 1.1958 at 1.2502 first. Break will target 61.8% retracement at 1.2837. On the downside, however, break of 1.2233 minor support will turn bias back to the downside for 1.1958 support 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 1.2779) 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) 1.2317; (P) 1.2349; (R1) 1.2390; More….

With 1.2233 minor support intact, rebound from 1.1958 short term bottom is still in progress. Further rise would be seen to 38.2% retracement of 1.3381 to 1.1958 at 1.2502 first. Break will target 61.8% retracement at 1.2837. On the downside, however, break of 1.2233 minor support will turn bias back to the downside for 1.1958 support 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 1.2779) 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) 1.2257; (P) 1.2321; (R1) 1.2407; More….

Intraday bias in GBP/USD remains mildly on the upside with 1.2233 minor support intact. Rebound from 1.1958 short term bottom is still in progress. Further rise would be seen to 38.2% retracement of 1.3381 to 1.1958 at 1.2502 first. Break will target 61.8% retracement at 1.2837. On the downside, however, break of 1.2233 minor support will turn bias back to the downside for 1.1958 support 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 1.2779) 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) 1.2257; (P) 1.2321; (R1) 1.2407; More….

With 1.2233 minor support intact, GBP/USD’s rebound from 1.1958 short term bottom is still in progress for 38.2% retracement of 1.3381 to 1.1958 at 1.2502 first. Break will target 61.8% retracement at 1.2837. On the downside, however, break of 1.2233 minor support will turn bias back to the downside for 1.1958 support 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 1.2779) 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) 1.2265; (P) 1.2305; (R1) 1.2329; More….

GBP/USD’s rebound from 1.1958 extends further to as high as 1.2385 so far today. Intraday bias stays on the upside for 38.2% retracement of 1.3381 to 1.1958 at 1.2502 first. Break will target 61.8% retracement at 1.2837. On the downside, however, break of 1.2233 minor support will turn bias back to the downside for 1.1958 support 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 1.2779) 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) 1.2265; (P) 1.2305; (R1) 1.2329; More….

With 1.2161 minor support intact, GBP/USD’s rebound from 1.1958 is in favor to extend higher to 38.2% retracement of 1.3381 to 1.1958 at 1.2502 first. Break will target 61.8% retracement at 1.2837. On the downside, break of 1.2162 minor support will turn bias back to the downside for 1.1958 support 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 1.2779) 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 edged lower to 1.1958 last week but rebounded strongly ahead of 1.1946 low. A short term bottom should be formed with bullish convergence condition in 4 hour MACD. Further rise is expected this week as long as 1.2162 minor support holds, to 38.2% retracement of 1.3381 to 1.1958 at 1.2502 first. Break will target 61.8% retracement at 1.2837. On the downside, break of 1.2162 minor support will turn bias back to the downside for 1.1958 support 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 1.2779) 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) 1.2243; (P) 1.2299; (R1) 1.2387; More….

No change in GBP/USD’s outlook. Intraday bias stays on the upside as rebound from 1.1958 short term bottom targets 38.2% retracement of 1.3381 to 1.1958 at 1.2502 first. Break will target 61.8% retracement at 1.2837. On the downside, break of 1.2162 minor support will turn bias back to the downside for 1.1958 support instead.

In the bigger picture, down trend from 1.4376 (2018 high) is extending towards 1.1946 low. We’d be cautious on bottoming there. But decisive break 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 any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2243; (P) 1.2299; (R1) 1.2387; More….

Intraday bias in GBP/USD remains on the upside at this point. Rebound from 1.1958 short term bottom should target 38.2% retracement of 1.3381 to 1.1958 at 1.2502 first. Break will target 61.8% retracement at 1.2837. On the downside, break of 1.2162 minor support will turn bias back to the downside for 1.1958 support instead.

In the bigger picture, down trend from 1.4376 (2018 high) is extending towards 1.1946 low. We’d be cautious on bottoming there. But decisive break 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 any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2138; (P) 1.2195; (R1) 1.2309; More….

GBP/USD’s break of 1.2309 resistance should confirm short term bottoming at 1.1958, on bullish convergence condition in 4 hour MACD. Also, as it was supported by 1.1946 low, 1.1958 might be a major bottoming. Intraday bias is now back on the upside for 38.2% retracement of 1.3381 to 1.1958 at 1.2502 first. Break will target 61.8% retracement at 1.2837. On the downside, break of 1.2162 minor support will turn bias back to the downside for 1.1958 support instead.

In the bigger picture, down trend from 1.4376 (2018 high) is extending towards 1.1946 low. We’d be cautious on bottoming there. But decisive break 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 any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2138; (P) 1.2195; (R1) 1.2309; More….

GBP/USD is staying below 1.2310 resistance despite strong rebound from 1.1958. Intraday bias remains neutral first. We’d stay cautious on bottoming around 1.1946. But break of 1.2309 is needed to confirm short term bottoming. Otherwise, further decline remains in favor. On the downside, decisive break of 1.1946 will target 61.8% projection of 1.2783 to 1.2014 from 1.2309 at 1.1834. However, sustained break of 1.2309 will turn near term outlook bullish for 1.2783 resistance next.

In the bigger picture, down trend from 1.4376 (2018 high) is extending towards 1.1946 low. We’d be cautious on bottoming there. But decisive break 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 any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.1996; (P) 1.2051; (R1) 1.2143; More….

Intraday bias in GBP/USD remains neutral at this point. We’d stay cautious on bottoming around 1.1946. But break of 1.2309 is needed to confirm short term bottoming. Otherwise, further decline remains in favor. On the downside, decisive break of 1.1946 will target 61.8% projection of 1.2783 to 1.2014 from 1.2309 at 1.1834. However, sustained break of 1.2309 will turn near term outlook bullish for 1.2783 resistance next.

In the bigger picture, down trend from 1.4376 (2018 high) is extending towards 1.1946 low. We’d be cautious on bottoming there. But decisive break 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 any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.1996; (P) 1.2051; (R1) 1.2143; More….

GBP/USD recovers after drawing strong support from 1.1946 low. With a temporary low formed at 1.1958, intraday bias is turned neutral first. We’d stay cautious on bottoming around 1.1946. But break of 1.2309 is needed to confirm short term bottoming. Otherwise, further decline remains in favor. On the downside, decisive break of 1.1946 will target 61.8% projection of 1.2783 to 1.2014 from 1.2309 at 1.1834. However, sustained break of 1.2309 will turn near term outlook bullish for 1.2783 resistance next.

In the bigger picture, down trend from 1.4376 (2018 high) is extending towards 1.1946 low. We’d be cautious on bottoming there. But decisive break 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 any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2009; (P) 1.2092; (R1) 1.2148; More….

Intraday bias in GBP/USD remains on the downside for further decline. We’d remain cautious on bottoming at 1.1946 low. On the upside, above 1.2137 minor resistance will turn intraday bias neutral first. But break of 1.2309 resistance needed to confirm short term bottoming. Otherwise, outlook will remain bearish for further decline. On the downside, decisive break of 1.1946 will target 61.8% projection of 1.2783 to 1.2014 from 1.2309 at 1.1834.

In the bigger picture, down trend from 1.4376 (2018 high) is extending towards 1.1946 low. We’d be cautious on bottoming there. But decisive break 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 any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2009; (P) 1.2092; (R1) 1.2148; More….

GBP/USD’s decline continues today and break of 1.2014 indicate larger decline resumption. Intraday bias stays on the downside for 1.1946 low. We’d be cautious on bottoming there. But decisive break will target 61.8% projection of 1.2783 to 1.2014 from 1.2309 at 1.1834. On the upside, break of 1.2309 resistance is needed to confirm short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, down trend from 1.4376 (2018 high) is extending towards 1.1946 low. We’d be cautious on bottoming there. But decisive break 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 any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2129; (P) 1.2178; (R1) 1.2215; More….

GBP/USD’s fall from 1.2309 extends further today. Intraday bias remains on the downside for 1.2014 support. Break will resume larger down trend to 1.1946 low next. On the upside, above 1.2174 minor resistance will turn intraday bias neutral again. In case of another rise as consolidation from 1.2014 extends, upside should be limited by 38.2% retracement of 1.3381 to 1.2014 at 1.2536 to bring down trend resumption eventually.

In the bigger picture, down trend from 1.4376 (2018 high) is extending towards 1.1946 low. We’d be cautious on bottoming there. But decisive break 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 any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2129; (P) 1.2178; (R1) 1.2215; More….

Intraday bias in GBP/USD remains on the downside as this point. At noted before, corrective recovery from 1.2014 could have completed at 1.2309. Further decline would be seen to retest 1.2014. Decisive break will resume larger down trend to 1.1946 low. On the upside, above 1.2309 will resume the corrective rise from 1.2014. But upside should be limited by 38.2% retracement of 1.3381 to 1.2014 at 1.2536 to bring down trend resumption eventually.

In the bigger picture, down trend from 1.4376 (2018 high) is extending towards 1.1946 low. We’d be cautious on bottoming there. But decisive break 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 any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

GBP/USD’s corrective recovery from 1.2014 could have completed earlier than expected last week at 1.2309. Initial bias is mildly on the downside this week for retesting 1.2014. Break will resume larger down trend fro 1.1946 low. On the upside, above 1.2309 will resume the corrective rise from 1.2014. But upside should be limited by 38.2% retracement of 1.3381 to 1.2014 at 1.2536 to bring down trend resumption eventually.

In the bigger picture, down trend from 1.4376 (2018 high) is extending towards 1.1946 low. We’d be cautious on bottoming there. But decisive break 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 any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

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) 1.2159; (P) 1.2196; (R1) 1.2219; More….

Intraday bias in GBP/USD is turned neutral as the pair recovers after hitting 1.2158. On the upside, above 1.2309 will resume the corrective rise from 1.2014. But upside should be limited by 38.2% retracement of 1.3381 to 1.2014 at 1.2536 to bring down trend resumption. On the downside, break of 1.2158 will target a test on 1.2014 low.

In the bigger picture, down trend from 1.4376 (2018 high) is extending towards 1.1946 low. We’d be cautious on bottoming there. But decisive break 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 any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2159; (P) 1.2196; (R1) 1.2219; More….

Intraday bias in GBP/USD remains mildly on the downside. Corrective recovery from 1.2014 could have completed at 1.2309 already. Deeper fall should be seen to retest 1.2014 first. Break will resume larger down trend to 1.1946 low. On the upside, above 1.2309 will extend the recovery. But upside should be limited by 38.2% retracement of 1.3381 to 1.2014 at 1.2536 to bring down trend resumption.

In the bigger picture, down trend from 1.4376 (2018 high) is extending towards 1.1946 low. We’d be cautious on bottoming there. But decisive break 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 any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.