Daily Pivots: (S1) 1.3136; (P) 1.3259; (R1) 1.3462; More….

GBP/USD spiked higher to 1.3381 and breached 1.3350 resistance. But it quickly retreated back into prior range. Intraday bias remains neutral first. For now, as long as 1.2960 support holds and further rise is in favor. Sustained break of 1.3350/3381 will resume whole rebound from 1.2391 low to 61.8% retracement of 1.4376 to 1.2391 at 1.3618 next. However, on the downside, firm break of 1.2960 will indicate that rebound from 1.2391 has completed earlier than expected at 1.3350. Deeper fall would then be seen to 1.2773 support for confirmation.

In the bigger picture, medium term decline from 1.4376 (2018 high) should have completed at 1.2391. Rise from 1.2391 is now seen as the third leg of the corrective pattern from 1.1946 (2016 low). Further rise could be seen through 1.4376 in medium term. On the downside, though, break of 1.2773 support will dampen this view. Focus will be turned back to 1.2391 low and break will resume the fall from 1.4376 to 1.1946.

Daily Pivots: (S1) 1.2955; (P) 1.3122; (R1) 1.3239; More….

Intraday bias in GBP/USD remains neutral as it’s staying in range of 1.2960/3350. On the upside, Break of 1.3350 will resume the rebound from 1.2391 low to 61.8% retracement of 1.4376 to 1.2391 at 1.3618 next. On the downside, again, sustained break of trend line support will argue that rebound from 1.2391 has completed earlier than expected at 1.3350. Deeper fall would then be seen to 1.2773 support for confirmation.

In the bigger picture, medium term decline from 1.4376 (2018 high) should have completed at 1.2391. Rise from 1.2391 is now seen as the third leg of the corrective pattern from 1.1946 (2016 low). Further rise could be seen through 1.4376 in medium term. On the downside, though, break of 1.2773 support will dampen this view. Focus will be turned back to 1.2391 low and break will resume the fall from 1.4376 to 1.1946.

Daily Pivots: (S1) 1.2955; (P) 1.3122; (R1) 1.3239; More….

GBP/USD is staying in range of 1.2960/3350 and intraday bias remains neutral first. On the upside, Break of 1.3350 will resume the rebound from 1.2391 low to 61.8% retracement of 1.4376 to 1.2391 at 1.3618 next. On the downside, again, sustained break of trend line support will argue that rebound from 1.2391 has completed earlier than expected at 1.3350. Deeper fall would then be seen to 1.2773 support for confirmation.

In the bigger picture, medium term decline from 1.4376 (2018 high) should have completed at 1.2391. Rise from 1.2391 is now seen as the third leg of the corrective pattern from 1.1946 (2016 low). Further rise could be seen through 1.4376 in medium term. On the downside, though, break of 1.2773 support will dampen this view. Focus will be turned back to 1.2391 low and break will resume the fall from 1.4376 to 1.1946.

Daily Pivots: (S1) 1.3016; (P) 1.3094; (R1) 1.3227; More….

GBP/USD failed to break through 1.3350 resistance despite today’s strong rebound. Intraday bias is turned neutral with subsequent steep retreat. On the upside, Break of 1.3350 will resume the rebound from 1.2391 low to 61.8% retracement of 1.4376 to 1.2391 at 1.3618 next. On the downside, again, sustained break of trend line support will argue that rebound from 1.2391 has completed earlier than expected at 1.3350. Deeper fall would then be seen to 1.2773 support for confirmation.

In the bigger picture, medium term decline from 1.4376 (2018 high) should have completed at 1.2391. Rise from 1.2391 is now seen as the third leg of the corrective pattern from 1.1946 (2016 low). Further rise could be seen through 1.4376 in medium term. On the downside, though, break of 1.2773 support will dampen this view. Focus will be turned back to 1.2391 low and break will resume the fall from 1.4376 to 1.1946.

Daily Pivots: (S1) 1.3016; (P) 1.3094; (R1) 1.3227; More….

The strong rebound and break of 1.3097 minor resistance suggests that pull back from 1.3350 has completed at 1.2960. More importantly, with near term trend line defended, outlook stays bullish for further rally. Intraday bias is turned back to the upside for 1.3350 first. Break will resume the rebound from 1.2391 low to 61.8% retracement of 1.4376 to 1.2391 at 1.3618 next. On the downside, again, sustained break of trend line support will argue that rebound from 1.2391 has completed earlier than expected at 1.3350. Deeper fall would then be seen to 1.2773 support for confirmation.

In the bigger picture, medium term decline from 1.4376 (2018 high) should have completed at 1.2391. Rise from 1.2391 is now seen as the third leg of the corrective pattern from 1.1946 (2016 low). Further rise could be seen through 1.4376 in medium term. On the downside, though, break of 1.2773 support will dampen this view. Focus will be turned back to 1.2391 low and break will resume the fall from 1.4376 to 1.1946.

Daily Pivots: (S1) 1.2968; (P) 1.3038; (R1) 1.3087; More….

GBP/USD recovers as it draws support from near term trend line (now at 1.2985). Intraday bias is turned neutral first. On the downside, sustained break of trend line support will argue that rebound from 1.2391 has completed earlier than expected at 1.3350. Deeper fall would then be seen to 1.2773 support for confirmation. On the upside, above 1.3184 minor resistance will suggest that the pull back has completed. Intraday bias will be turned back to the upside for 1.3350.

In the bigger picture, medium term decline from 1.4376 (2018 high) should have completed at 1.2391. Rise from 1.2391 is now seen as the third leg of the corrective pattern from 1.1946 (2016 low). Further rise could be seen through 1.4376 in medium term. On the downside, though, break of 1.2773 support will dampen this view. Focus will be turned back to 1.2391 low and break will resume the fall from 1.4376 to 1.1946.

Daily Pivots: (S1) 1.2968; (P) 1.3038; (R1) 1.3087; More….

Intraday bias in GBP/USD remains on the downside as decline from 1.3350 is in progress. Sustained break of trend line support (now at 1.2973) will argue that rebound from 1.2391 has completed earlier than expected at 1.3350. Deeper fall would then be seen to 1.2773 support for confirmation. On the upside, above 1.3184 minor resistance will suggest that the pull back has completed. Intraday bias will be turned back to the upside for 1.3350.

In the bigger picture, medium term decline from 1.4376 (2018 high) should have completed at 1.2391. Rise from 1.2391 is now seen as the third leg of the corrective pattern from 1.1946 (2016 low). Further rise could be seen through 1.4376 in medium term. On the downside, though, break of 1.2773 support will dampen this view. Focus will be turned back to 1.2391 low and break will resume the fall from 1.4376 to 1.1946.

GBP/USD’s pullback from 1.3350 extended to as low as 1.2990 last week. Initial bias remains on the downside this week for trend line support (now at 1.2971) first. Decisive break there will argue that rebound from 1.2391 has completed earlier than expected at 1.3350. Deeper fall would then be seen to 1.2773 support for confirmation. On the upside, above 1.3184 minor resistance will suggest that the pull back has completed. Intraday bias will be turned back to the upside for 1.3350.

In the bigger picture, medium term decline from 1.4376 (2018 high) should have completed at 1.2391. Rise from 1.2391 is now seen as the third leg of the corrective pattern from 1.1946 (2016 low). Further rise could be seen through 1.4376 in medium term. On the downside, though, break of 1.2773 support will dampen this view. Focus will be turned back to 1.2391 low and break will resume the fall from 1.4376 to 1.1946.

In the longer term picture, current development argues that corrective pattern from 1.1946 (2016 low) is extending with another rise. But there is no change in the long term bearish outlook as long as 38.2% retracement of 2.1161 (2007 high) to 1.1946 at 1.5466 holds. An eventual downside breakout through 1.1946 is still in favor in the long term.

Daily Pivots: (S1) 1.3038; (P) 1.3112; (R1) 1.3156; More….

Intraday bias in GBP/USD remains on the downside for trend line support (now at 1.2980). Decisive break there will add to the case of near term reversal and target 1.2773 support for confirmation. On the upside, above 1.3184 minor resistance will turn bias back to the upside for 1.3350 instead.

In the bigger picture, medium term decline from 1.4376 (2018 high) should have completed at 1.2391. Rise from 1.2391 is now seen as the third leg of the corrective pattern from 1.1946 (2016 low). Further rise could be seen through 1.4376 in medium term. On the downside, though, break of 1.2773 support will turn focus back to 1.2391 low and then 1.1946.

Daily Pivots: (S1) 1.3038; (P) 1.3112; (R1) 1.3156; More….

With 1.3184 minor resistance intact, intraday bias in GBP/USD remains on the downside for trend line support (now at 1.2968). Decisive break there will add to the case of near term reversal and target 1.2773 support for confirmation. On the upside, above 1.3184 minor resistance will turn bias back to the upside for 1.3350 instead.

In the bigger picture, medium term decline from 1.4376 (2018 high) should have completed at 1.2391. Rise from 1.2391 is now seen as the third leg of the corrective pattern from 1.1946 (2016 low). Further rise could be seen through 1.4376 in medium term. On the downside, though, break of 1.2773 support will turn focus back to 1.2391 low and then 1.1946.

Daily Pivots: (S1) 1.3136; (P) 1.3159; (R1) 1.3195; More….

GBP/USD’s fall from 1.3350 resumes today and breaks 1.3109 support. Intraday bias is now on the downside for trend line support (now at 1.2968). Decisive break there will add to the case of near term reversal and target 1.2773 support for confirmation. On the upside, above 1.3184 minor resistance will turn bias back to the upside for 1.3350 instead.

In the bigger picture, medium term decline from 1.4376 (2018 high) should have completed at 1.2391. Rise from 1.2391 is now seen as the third leg of the corrective pattern from 1.1946 (2016 low). Further rise could be seen through 1.4376 in medium term. On the downside, though, break of 1.2773 support will turn focus back to 1.2391 low and then 1.1946.

Daily Pivots: (S1) 1.3136; (P) 1.3159; (R1) 1.3195; More….

Outlook in GBP/USD remains unchanged an intraday bias stays neutral. Focus is on 1.3109 minor support. Firm break will be an early sign of near term reversal and bring deeper fall to trend line support (now at 1.2956). Break will target 1.2774 support to confirm completion of rebound from 1.2391. Nevertheless, rebound from current level, followed by break of 1.3350, will resume rise from 1.2391 to 61.8% retracement of 1.4376 to 1.2391 at 1.3618 next.

In the bigger picture, medium term decline from 1.4376 (2018 high) should have completed at 1.2391. Rise from 1.2391 is now seen as the third leg of the corrective pattern from 1.1946 (2016 low). Further rise could be seen through 1.4376 in medium term. On the downside, though, break of 1.2773 support will turn focus back to 1.2391 low and then 1.1946.

Daily Pivots: (S1) 1.3118; (P) 1.3158; (R1) 1.3218; More….

Intraday bias in GBP/USD remains neutral with focus on 1.3109 minor support. Firm break will be an early sign of near term reversal and bring deeper fall to trend line support (now at 1.2954). Break will target 1.2774 support to confirm completion of rebound from 1.2391. Nevertheless, rebound from current level, followed by break of 1.3350, will resume rise from 1.2391 to 61.8% retracement of 1.4376 to 1.2391 at 1.3618 next.

In the bigger picture, medium term decline from 1.4376 (2018 high) should have completed at 1.2391. Rise from 1.2391 is now seen as the third leg of the corrective pattern from 1.1946 (2016 low). Further rise could be seen through 1.4376 in medium term. On the downside, though, break of 1.2773 support will turn focus back to 1.2391 low and then 1.1946.

Daily Pivots: (S1) 1.3118; (P) 1.3158; (R1) 1.3218; More….

Focus stays on 1.3109 support in GBP/USD. Firm break will be an early sign of near term reversal and bring deeper fall to trend line support (now at 1.2944). Break will target 1.2774 support to confirm completion of rebound from 1.2391. Nevertheless, rebound from current level, followed by break of 1.3350, will resume rise from 1.2391 to 61.8% retracement of 1.4376 to 1.2391 at 1.3618 next.

In the bigger picture, medium term decline from 1.4376 (2018 high) should have completed at 1.2391. Rise from 1.2391 is now seen as the third leg of the corrective pattern from 1.1946 (2016 low). Further rise could be seen through 1.4376 in medium term. On the downside, though, break of 1.2773 support will turn focus back to 1.2391 low and then 1.1946.

Daily Pivots: (S1) 1.3146; (P) 1.3201; (R1) 1.3237; More….

GBP/USD’s fall from 1.3350 extends to as low as 1.3097 so far today. The breach of 1.3109 support now raises chance of near term reversal. Intraday bias is mildly on the downside for trend line support (now at 1.2944). Break will target 1.2774 support to confirm completion of rebound from 1.2391. Nevertheless, rebound from current level, followed by break of 1.3350, will resume rise from 1.2391 to 61.8% retracement of 1.4376 to 1.2391 at 1.3618 next.

In the bigger picture, medium term decline from 1.4376 (2018 high) should have completed at 1.2391. Rise from 1.2391 is now seen as the third leg of the corrective pattern from 1.1946 (2016 low). Further rise could be seen through 1.4376 in medium term. On the downside, though, break of 1.2773 support will turn focus back to 1.2391 low and then 1.1946.

Daily Pivots: (S1) 1.3146; (P) 1.3201; (R1) 1.3237; More….

GBP/USD’s retreat from 1.3350 is still in progress and intraday bias remains neutral. Deeper retreat could be seen but downside should be contained by 1.3109 support to bring anther rally. On the upside, On the upside, break of 1.3350 will extend the rise from 1.2391 to 61.8% retracement of 1.4376 to 1.2391 at 1.3618 next. Sustained break will pave the way to 1.4376. However, break of 1.3109 will turn focus back to 1.2773 near term support instead.

In the bigger picture, medium term decline from 1.4376 (2018 high) should have completed at 1.2391. Rise from 1.2391 is now seen as the third leg of the corrective pattern from 1.1946 (2016 low). Further rise could be seen through 1.4376 in medium term. On the downside, though, break of 1.2773 support will turn focus back to 1.2391 low and then 1.1946.

Daily Pivots: (S1) 1.3157; (P) 1.3221; (R1) 1.3272; More….

GBP/USD is staying in consolidation from 1.3350 temporary top and intraday bias remains neutral. Deeper retreat could be seen but downside should be contained by 1.3109 support to bring anther rally. On the upside, On the upside, break of 1.3350 will extend the rise from 1.2391 to 61.8% retracement of 1.4376 to 1.2391 at 1.3618 next. Sustained break will pave the way to 1.4376. However, break of 1.3109 will turn focus back to 1.2773 near term support instead.

In the bigger picture, medium term decline from 1.4376 (2018 high) should have completed at 1.2391. Rise from 1.2391 is now seen as the third leg of the corrective pattern from 1.1946 (2016 low). Further rise could be seen through 1.4376 in medium term. On the downside, though, break of 1.2773 support will turn focus back to 1.2391 low and then 1.1946.

Daily Pivots: (S1) 1.3157; (P) 1.3221; (R1) 1.3272; More….

Intraday bias in GBP/USD remains neutral for consolidation below 1.3350 temporary top. Downside of retreat should be contained by 1.3109 support to bring anther rally. On the upside, On the upside, break of 1.3350 will extend the rise from 1.2391 to 61.8% retracement of 1.4376 to 1.2391 at 1.3618 next. Sustained break will pave the way to 1.4376. However, break of 1.3109 will turn focus back to 1.2773 near term support instead.

In the bigger picture, medium term decline from 1.4376 (2018 high) should have completed at 1.2391. Rise from 1.2391 is now seen as the third leg of the corrective pattern from 1.1946 (2016 low). Further rise could be seen through 1.4376 in medium term. On the downside, though, break of 1.2773 support will turn focus back to 1.2391 low and then 1.1946.

GBP./USD rose to as high as 1.3350 last week and the break of 1.3217 resistance suggests completion of fall from 1.4376. As a temporary top was formed, initial bias is neutral this week for some more consolidation first. But downside of retreat should be contained by 1.3109 minor support to bring another rally. On the upside, break of 1.3350 will extend the rise from 1.2391 to 61.8% retracement of 1.4376 to 1.2391 at 1.3618 next. Sustained break will pave the way to 1.4376. However, break of 1.3109 will turn focus back to 1.2773 near term support.

In the bigger picture, medium term decline from 1.4376 (2018 high) should have completed at 1.2391. Rise from 1.2391 is now seen as the third leg of the corrective pattern from 1.1946 (2016 low). Further rise could be seen through 1.4376 in medium term. On the downside, though, break of 1.2773 support will turn focus back to 1.2391 low and then 1.1946.

In the longer term picture, current development argues that corrective pattern from 1.1946 (2016 low) is extending with another rise. But there is no change in the long term bearish outlook as long as 38.2% retracement of 2.1161 (2007 high) to 1.1946 at 1.5466 holds. An eventual downside breakout through 1.1946 is still in favor in the long term.

Daily Pivots: (S1) 1.3237; (P) 1.3279; (R1) 1.3303; More….

GBP/USD is staying in consolidation below 1.3350 temporary top and intraday bias remains neutral. Downside of retreat should be contained by 1.3109 resistance turned support to bring rise resumption. On the upside, break of 1.3350 will will target 61.8% retracement of 1.4376 to 1.2391 at 1.3618 next. Sustained break will pave the way to 1.4376. However, break of 1.3109 will turn focus back to 1.2773 near term support.

In the bigger picture, medium term decline from 1.4376 (2018 high) should have completed at 1.2391. Rise from 1.2391 is now seen as the third leg of the corrective pattern from 1.1946 (2016 low). Further rise could be seen through 1.4376 in medium term. On the downside, though, break of 1.2773 support will turn focus back to 1.2391 low and then 1.1946.