Daily Pivots: (S1) 1.1410; (P) 1.1563; (R1) 1.1678; More…

Intraday bias in GBP/USD remains neutral as consolidation from 1.1409 is still extending. Stronger recovery cannot be ruled out. but upside should be limited by 1.2129 minor resistance to bring fall resumption. On the downside, break of 1.1409 will resume larger down trend.

In the bigger picture, down trend from 2.1161 (2007 high) has just resumed. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2889; (P) 1.2915; (R1) 1.2959; More…

No change in GBP/USD’s outlook as it’s staying below 1.3030 resistance. Intraday bias remains neutral with mildly bearish outlook. We’re favoring the case that correction from 1.1946 is completed at 1.3267. Below 1.2773 will target 1.2588 key near term support first. Decisive break of 1.2588 will confirm our view and target a test on 1.1946 low. Though, break of 1.3030 will dampen this bearish view and turn bias back to the upside for retesting 1.3267.

In the bigger picture, overall, price actions from 1.1946 medium term low are seen as a corrective pattern. While further rise cannot be ruled out, larger outlook remains bearish as long as 1.3444 key resistance holds. Down trend from 1.7190 (2014 high) is expected to resume later after the correction completes. And break of 1.2588 will indicate that such down trend is resuming.

Daily Pivots: (S1) 1.2536; (P) 1.2558; (R1) 1.2596; More….

Intraday bias in GBP/USD remains neutral for the moment. Consolidation from 1.2439 might extend with stronger recovery. But upside should be limited below 1.2783 resistance to bring fall resumption. On the downside, break of 1.2439 would resume the decline from 1.3381 to retest 1.2391 low. Firm break there will resume larger down trend.

In the bigger picture, down trend from 1.4376 (2018 high) is still in progress. Break of 1.2391 would target a test on 1.1946 long term bottom (2016 low). For now, we don’t expect a firm break there yet. Hence, focus will be on bottoming signal as it approaches 1.1946. In any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2401; (P) 1.2447; (R1) 1.2487; More…

Range trading continues in GBP/USD and intraday bias remains neutral first. Further rise is in favor as long as 1.2247 support holds. Break of 1.2647 will resume the rise from 1.1409 to 1.3200 resistance. On the downside, break of 1.2247 support will indicate completion of rebound from 1.1409. Intraday bias will be turned back to the downside for retesting 1.1409 low.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2206; (P) 1.2253; (R1) 1.2336; More…

GBP/USD’s rally continues today and intraday bias stays on the upside. Decisive break of 1.2445 high will confirm resumption of whole rise from 1.0351. Next target will be 1.2759 fibonacci level. On the downside, break of 1.2252 minor support will turn intraday bias neutral again first.

In the bigger picture, rise from 1.0351 medium term bottom is at least correcting whole down trend from 1.4248 (2021 high). Further rise is expected as long as 1.1644 resistance turned support holds. Next target is 61.8% retracement of 1.4248 to 1.0351 at 1.2759. Sustained break there will pave the way back to 1.4248.

Daily Pivots: (S1) 1.2340; (P) 1.2408; (R1) 1.2466; More…

Intraday bias in GBP/USD remains neutral for the moment. On the downside, break of 1.2144 minor support will suggest completion of the rebound from 1.1409 and turn bias to the downside for retesting 1.1409 low. On the upside, sustained break of 61.8% retracement of 1.3200 to 1.1409 at 1.2516 will raise the chance of larger reversal and turn focus to 1.3200 resistance first.

In the bigger picture, down trend from 2.1161 (2007 high) has just resumed. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2816; (P) 1.2891; (R1) 1.2941; More…

Intraday bias in GBP/USD stays neutral and outlook is unchanged. With 1.2847 resistance turned support intact, outlook stays bullish. On the upside, above 1.2963 minor resistance will turn bias back to the upside for retesting 1.3141 high. Nevertheless, decisive break of 1.2847 will argue that larger correction is underway and target 1.2589 support next.

In the bigger picture, rise from 1.0351 medium term bottom (2022 low) is in progress. Next target is 100% projection of 1.0351 to 1.2445 from 1.1801 at 1.3895. Break there will target 1.4248 key long term resistance (2021 high) next. This will now remain the favored case as long as 1.2678 resistance turned support holds.

Daily Pivots: (S1) 1.3004; (P) 1.3064; (R1) 1.3101; More…

GBP/USD’s decline is still in progress and intraday bias remains on the downside. Current down trend from 1.4248 should target 100% projection of 1.4248 to 1.3158 from 1.3748 at 1.2658 next. On the upside, break of 1.3193 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, current development suggests that the up trend from 1.1409 (2020 low) has completed at 1.4248. Decline from 1.4248 could still be a corrective move, or it could be the start of a long term down trend. In either case, deeper decline would be seen back to 61.8% retracement of 2.1161 to 1.1409 at 1.2493. In any case, break of 1.3748 resistance is needed to indicate medium term bottoming, or outlook will stay bearish.

Daily Pivots: (S1) 1.1990; (P) 1.2037; (R1) 1.2089; More…

Intraday bias in GBP/USD remains on the upside as rebound from 1.1986 continues. Such rise is seen as the third leg of the consolidation pattern from 1.1946. Thus, we’d expect strong resistance at 1.2774 to limit upside and bring down trend resumption eventually. On the downside, below 1.2188 minor support will turn bias to the downside for retesting 1.1946 low.

In the bigger picture, fall from 1.7190 is seen as part of the down trend from 2.1161. There is no sign of medium term bottoming yet. Sustained trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish.

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Daily Pivots: (S1) 1.3103; (P) 1.3135; (R1) 1.3168; More….

Intraday bias in GBP/USD remains on the upside. Current rise from 1.1958 is in progress for 1.3381 resistance next. On the downside, below 1.3100 minor support will turn intraday bias neutral again first. But downside of retreat should be contained well above 1.2827 support to bring rise resumption.

In the bigger picture, rise from 1.1958 medium term bottom is seen as the third leg of consolidation from 1.1946. Further rise would be seen back towards 1.4376 resistance. For now, this will remain the favored case as long as 1.2582 resistance turned support holds. However, firm break of 1.2582 will turn focus back to 1.1946 low.

Daily Pivots: (S1) 1.2483; (P) 1.2541; (R1) 1.2652; More…

GBP/USD is staying in range trading and intraday bias remains neutral first. On the downside, break of 1.2429 support suggest that rebound from 1.2154 has completed. Intraday bias will be back on the downside for resting this low. On the upside, above 1.2666 will target 55 day EMA (now at 1.2706) and above.

In the bigger picture, fall from 1.4248 (2018 high) could be a leg inside the pattern from 1.1409 (2020 low), or resuming the longer term down trend. Deeper decline is expected as long as 1.2999 support turned resistance holds. On resumption, next target is 1.1409 low.

Daily Pivots: (S1) 1.2208; (P) 1.2296; (R1) 1.2426; More…

Intraday bias in GBP/USD remains neutral for the moment. On the downside, break of 1.2144 minor support will suggest completion of the rebound from 1.1409 and turn bias to the downside for retesting 1.1409 low. On the upside, sustained break of 61.8% retracement of 1.3200 to 1.1409 at 1.2516 will raise the chance of larger reversal and turn focus to 1.3200 resistance first.

In the bigger picture, down trend from 2.1161 (2007 high) is still in progress. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2825; (P) 1.2925; (R1) 1.3099; More…

Intraday bias in GBP/USD remains on the upside for the moment. Rebound form 1.2692 is in progress for 1.3297 resistance. For now, price actions from 1.2661 are seen as a consolidation pattern. We’d expect strong resistance from 1.3316 fibonacci level to limit upside to bring down trend resumption eventually. On the downside, below 1.2908 minor support will turn bias back to the downside for 1.2692 instead.

In the bigger picture, whole medium term rebound from 1.1946 (2016 low) should have completed at 1.4376 already, after rejection from 55 month EMA. The structure and momentum of the fall from 1.4376 argues that it’s resuming long term down trend. And this will be the preferred case as long as 38.2% retracement of 1.4376 to 1.2661 at 1.3316 holds. However, firm break of 1.3316 would bring stronger rebound to 61.8% retracement at 1.3721. And, the eventual depth of the fall from 1.4376, and the chance of hitting 1.1946 low, will depend on the strength of the interim corrective rebound from 1.2661.

Daily Pivots: (S1) 1.2300; (P) 1.2347; (R1) 1.2420; More…

Intraday bias in GBP/USD remains neutral for the moment as sideway trading continues. On the downside, firm break of 1.2252 minor support will turn bias to the downside, and extend the corrective pattern from 1.2445 with another falling leg. On the upside, decisive break of 1.2445 will confirm resumption of whole rise from 1.0351. Next target will be 1.2759 fibonacci level.

In the bigger picture, rise from 1.0351 medium term bottom is at least correcting whole down trend from 1.4248 (2021 high). Further rise is expected as long as 1.1644 resistance turned support holds. Next target is 61.8% retracement of 1.4248 to 1.0351 at 1.2759. Sustained break there will pave the way back to 1.4248.

Daily Pivots: (S1) 1.1942; (P) 1.1990; (R1) 1.2027; More…

Range trading continues in GBP/USD and intraday bias remains neutral first. Focus remains on 1.2055 minor resistance. Firm break there will confirm short term bottoming at 1.1759. Bias will be turned back to the upside for 1.2405 resistance next. On the downside, below 1.1759 will resume larger down trend to 100% projection of 1.2666 to 1.1932 from 1.2405 at 1.1671.

In the bigger picture, fall from 1.4248 (2018 high) could be a leg inside the pattern from 1.1409 (2020 low), or resuming the longer term down trend. Deeper decline is expected as long as 1.2666 resistance holds. Next target is 1.1409 low. However, firm break of 1.2666 will bring stronger rise back to 55 week EMA (now at 1.3065).

Daily Pivots: (S1) 1.3544; (P) 1.3658; (R1) 1.3729; More…

GBP/USD reaches as low as 1.3579 so far and there is no sign of bottoming yet. Intraday bias remains on the downside and fall from 1.4376 should target 1.3448 fibonacci level next. On the upside, above 1.3665 minor resistance will turn intraday bias neutral first. Some consolidations could then be seen before another decline.

In the bigger picture, current development suggests that whole medium term rebound from 1.1936 (2016 low) has completed at 1.4376 already, with trend line broken, on bearish divergence condition in daily MACD, after rejection from 55 month EMA (now at 1.4248). Deeper decline should be seen to 38.2% retracement of 1.1936 (2016 low) to 1.4376 at 1.3448 first. Break will target 61.8% retracement at 1.2874 and below. Outlook will stay bearish as long as 55 day EMA (now at 1.3955) holds, even in case of strong rebound.

Daily Pivots: (S1) 1.2397; (P) 1.2436; (R1) 1.2478; More…

No change in GBP/USD’s outlook as range trading continues. Intraday bias stays neutral at this point. Another rise is in favor with 1.2343 support intact. On the upside, above 1.2545 will target 1.2759 fibonacci level first. Firm break there will target 61.8% projection of 1.0351 to 1.2445 from 1.1801 at 1.3095. However, considering bearish divergence condition in 4H MACD, firm break of 1.2343 will confirm short term topping, and turn bias back to the downside for deeper pullback.

In the bigger picture, the rise from 1.0351 medium term term bottom (2022 low) is in progress for 61.8% retracement of 1.4248 (2021 high) to 1.0351 at 1.2759. Sustained break there will add to the case of long term bullish trend reversal. Further break of 61.8% projection of 1.0351 to 1.2445 from 1.1801 at 1.3095 could prompt upside acceleration to 100% projection at 1.3895. For now, this will remain the favored case as long as 1.1801 support holds, even in case of deep pull back.

Daily Pivots: (S1) 1.2461; (P) 1.2516; (R1) 1.2551; More…

Intraday bias in GBP/USD is turned neutral with current retreat and some consolidations would be seen below 1.2582 first. Outlook will stay bullish as long as 1.2352 support holds. On the upside, above 1.2582 will target 1.2759 fibonacci level first. Firm break there will target 61.8% projection of 1.0351 to 1.2445 from 1.1801 at 1.3095.

In the bigger picture, the rise from 1.0351 medium term term bottom (2022 low) is in progress for 61.8% retracement of 1.4248 (2021 high) to 1.0351 at 1.2759. Sustained break there will add to the case of long term bullish trend reversal. Further break of 61.8% projection of 1.0351 to 1.2445 from 1.1801 at 1.3095 could prompt upside acceleration to 100% projection at 1.3895. For now, this will remain the favored case as long as 1.1801 support holds, even in case of deep pull back.

Daily Pivots: (S1) 1.3339; (P) 1.3403; (R1) 1.3525; More…

GBP/USD’s breach of 1.3539 resistance suggests up rise resumption. Sustained break trading above 1.3514 key resistance will also carry larger bullish implications. That would pave the way to 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956 next. Through, below 1.3401 minor support will turn intraday bias neutral first.

In the bigger picture, focus stays on 1.3514 key resistance. Decisive break there should also come with sustained trading above 55 month EMA (now at 1.3308). That should confirm medium term bottoming at 1.1409. Outlook will be turned bullish for 1.4376 resistance and above. Nevertheless, rejection by 1.3514 will maintain medium term bearishness for another lower below 1.1409 at a later stage.

GBP/USD’s rebound from 1.1759 extended higher last week. As temporary top was formed at 1.2244, initial bias is neutral this week first. On the upside, break of 1.2244 will resume the rebound from 1.1759 for 1.2405 resistance. Firm break there will target 1.2666 key resistance next. On the downside, break of 1.2019 minor support will turn bias back to the downside for retesting 1.1759 low instead.

In the bigger picture, fall from 1.4248 (2018 high) could be a leg inside the pattern from 1.1409 (2020 low), or resuming the longer term down trend. Deeper decline is expected as long as 1.2666 resistance holds. Next target is 1.1409 low. However, firm break of 1.2666 will bring stronger rise back to 55 week EMA (now at 1.2957).

In the longer term picture, rebound from 1.1409 long term bottom should have completed at 1.4248 already, well ahead of 38.2% retracement of 2.1161 to 1.1409 at 1.5134. The development argues that price actions from 1.1409 are developing into a corrective pattern only. That is, long term bearishness is retained for resuming the down trend from 2.1161 (2007 high) at a later stage.