Daily Pivots: (S1) 1.2760; (P) 1.2805; (R1) 1.2883; More…

Intraday bias in GBP/USD is turned neutral with current retreat. On the downside, break of 1.2738 minor support will indicate that consolidation from 1.2847 is extending with another falling leg, back to 1.2589 support. On the upside, decisive break of 1.2847/8 will confirm resumption of larger up trend from 1.0351. Next target is 61.8% projection of 1.0351 to 1.2445 from 1.1801 at 1.3095.

In the bigger picture, the strong support from 55 W EMA (now at 1.2341) is a medium term bullish sign. Outlook will stay bullish as long as 1.2306 support holds. Rise from 1.0351 medium term bottom (2022 low) is expected to extend further to retest 1.4248 key resistance (2021 high).

Daily Pivots: (S1) 1.2760; (P) 1.2805; (R1) 1.2883; More…

Intraday bias in GBP/USD stays on the upside at this point. Sustained trading above 1.2847 will confirm resumption of larger up trend from 1.0351. Next target is 61.8% projection of 1.0351 to 1.2445 from 1.1801 at 1.3095. On the downside, below 1.2738 minor support will delay the bullish case and turn intraday bias neutral first.

In the bigger picture, the strong support from 55 W EMA (now at 1.2341) is a medium term bullish sign. Outlook will stay bullish as long as 1.2306 support holds. Rise from 1.0351 medium term bottom (2022 low) is expected to extend further to retest 1.4248 key resistance (2021 high).

GBP/USD’s rebound from 1.2589 accelerated higher last week and breached 1.2847. Initial bias is now on the upside this week. Sustained trading above 1.2847 will confirm resumption of larger up trend from 1.0351. Next target is 61.8% projection of 1.0351 to 1.2445 from 1.1801 at 1.3095. On the downside, below 1.2738 minor support will delay the bullish case and turn intraday bias neutral first.

In the bigger picture, the strong support from 55 W EMA (now at 1.2341) is a medium term bullish sign. Outlook will stay bullish as long as 1.2306 support holds. Rise from 1.0351 medium term bottom (2022 low) is expected to extend further to retest 1.4248 key resistance (2021 high).

In the long term picture, immediate focus is on 55 M EMA (now at 1.2908). Sustained trading above there add to the case of long term bullish reversal. Nevertheless, break of 1.4248 resistance (2021 high), and 38.2% retracement of 2.1161 (2007 high) to 1.0351 at 1.4480 is needed to confirm. Otherwise, long term outlook is just neutral at best.

Daily Pivots: (S1) 1.2682; (P) 1.2731; (R1) 1.2789; More…

GBP/USD is staying below 1.2847 despite today’s rally. Intraday bias remains neutral first. On the upside, firm break of 1.2847 will resume larger up trend from 1.0351 to 61.8% projection of 1.0351 to 1.2445 from 1.1801 at 1.3095. On the downside, though, break of 1.2589 will extend the fall from 1.2847 to 55 D EMA (now at 1.2558).

In the bigger picture, the strong support from 55 W EMA (now at 1.2341) is a medium term bullish sign. Outlook will stay bullish as long as 1.2306 support holds. Rise from 1.0351 medium term bottom (2022 low) is expected to extend further to retest 1.4248 key resistance (2021 high).

Daily Pivots: (S1) 1.2682; (P) 1.2731; (R1) 1.2789; More…

Intraday bias in GBP/USD stays neutral at this point as consolidation from 1.2847 is extending. On the upside, firm break of 1.2847 will resume larger up trend from 1.0351 to 61.8% projection of 1.0351 to 1.2445 from 1.1801 at 1.3095. On the downside, though, break of 1.2589 will extend the fall from 1.2847 to 55 D EMA (now at 1.2558).

In the bigger picture, the strong support from 55 W EMA (now at 1.2341) is a medium term bullish sign. Outlook will stay bullish as long as 1.2306 support holds. Rise from 1.0351 medium term bottom (2022 low) is expected to extend further to retest 1.4248 key resistance (2021 high).

Daily Pivots: (S1) 1.2683; (P) 1.2709; (R1) 1.2730; More…

Intraday bias in GBP/USD remains neutral even though it’s trying to extending the recovery from 1.2589. On the upside, firm break of 1.2847 will resume larger up trend from 1.0351 to 61.8% projection of 1.0351 to 1.2445 from 1.1801 at 1.3095. On the downside, though, break of 1.2589 will extend the fall from 1.2847 to 55 D EMA (now at 1.2558).

In the bigger picture, the strong support from 55 W EMA (now at 1.2341) is a medium term bullish sign. Outlook will stay bullish as long as 1.2306 support holds. Rise from 1.0351 medium term bottom (2022 low) is expected to extend further to retest 1.4248 key resistance (2021 high).

Daily Pivots: (S1) 1.2683; (P) 1.2709; (R1) 1.2730; More…

Intraday bias in GBP/USD is turned neutral first as recovery from 1.2589 lost momentum. On the upside, firm break of 1.2847 will resume larger up trend from 1.0351 to 61.8% projection of 1.0351 to 1.2445 from 1.1801 at 1.3095. On the downside, though, break of 1.2589 will extend the fall from 1.2847 to 55 D EMA (now at 1.2558).

In the bigger picture, the strong support from 55 W EMA (now at 1.2341) is a medium term bullish sign. Outlook will stay bullish as long as 1.2306 support holds. Rise from 1.0351 medium term bottom (2022 low) is expected to extend further to retest 1.4248 key resistance (2021 high).

Daily Pivots: (S1) 1.2685; (P) 1.2712; (R1) 1.2740; More…

Intraday bias in GBP/USD remains mildly on the upside at this point. Further rise would be seen to retest 1.2847 high. Firm break there will resume larger up trend from 1.0351, to 61.8% projection of 1.0351 to 1.2445 from 1.1801 at 1.3095. On the downside, though, break of 1.2589 will extend the fall to 55 D EMA (now at 1.2547).

In the bigger picture, the strong support from 55 W EMA (now at 1.2341) is a medium term bullish sign. Outlook will stay bullish as long as 1.2306 support holds. Rise from 1.0351 medium term bottom (2022 low) is expected to extend further to retest 1.4248 key resistance (2021 high).

Daily Pivots: (S1) 1.2685; (P) 1.2712; (R1) 1.2740; More…

No change in GBP/USD’s outlook and intraday bias stays mildly on the upside for retesting 1.2847 high first. Firm break there will resume larger up trend from 1.0351, to 61.8% projection of 1.0351 to 1.2445 from 1.1801 at 1.3095. On the downside, though, break of 1.2589 will extend the fall to 55 D EMA (now at 1.2547).

In the bigger picture, the strong support from 55 W EMA (now at 1.2341) is a medium term bullish sign. Outlook will stay bullish as long as 1.2306 support holds. Rise from 1.0351 medium term bottom (2022 low) is expected to extend further to retest 1.4248 key resistance (2021 high).

Daily Pivots: (S1) 1.2659; (P) 1.2691; (R1) 1.2723; More…

Intraday bias in GBP/USD remains mildly on the upside and rebound from 1.2589 would target retesting 1.2847 high first. Firm break there will resume larger up trend from 1.0351, to 61.8% projection of 1.0351 to 1.2445 from 1.1801 at 1.3095. On the downside, though, break of 1.2589 will extend the fall to 55 D EMA (now at 1.2541).

In the bigger picture, the strong support from 55 W EMA (now at 1.2341) is a medium term bullish sign. Outlook will stay bullish as long as 1.2306 support holds. Rise from 1.0351 medium term bottom (2022 low) is expected to extend further to retest 1.4248 key resistance (2021 high).

Daily Pivots: (S1) 1.2621; (P) 1.2674; (R1) 1.2748; More…

Intraday bias in GBP/USD stays mildly on the upside at this point. Pull back from 1.2847 could have completed at 1.2589. Further rise would be seen to retest 1.2847 high first. Firm break there will resume larger up trend from 1.0351, to 61.8% projection of 1.0351 to 1.2445 from 1.1801 at 1.3095. On the downside, though, break of 1.2589 will extend the fall to 55 D EMA (now at 1.2540).

In the bigger picture, the strong support from 55 W EMA (now at 1.2341) is a medium term bullish sign. Outlook will stay bullish as long as 1.2306 support holds. Rise from 1.0351 medium term bottom (2022 low) is expected to extend further to retest 1.4248 key resistance (2021 high).

GBP/USD’s pull back from 1.2847 could have completed after dipping to 1.2589 last week. Initial bias remains mildly on the upside this week for retesting 1.2847. Firm break there will resume larger up trend from 1.0351, to 61.8% projection of 1.0351 to 1.2445 from 1.1801 at 1.3095. On the downside, though, break of 1.2589 will extend the fall to 55 D EMA (now at 1.2535).

In the bigger picture, the strong support from 55 W EMA (now at 1.2341) is a medium term bullish sign. Outlook will stay bullish as long as 1.2306 support holds. Rise from 1.0351 medium term bottom (2022 low) is expected to extend further to retest 1.4248 key resistance (2021 high).

In the long term picture, immediate focus is on 55 M EMA (now at 1.2919). Sustained trading above there add to the case of long term bullish reversal. Nevertheless, break of 1.4248 resistance (2021 high), and 38.2% retracement of 2.1161 (2007 high) to 1.0351 at 1.4480 is needed to confirm. Otherwise, long term outlook is just neutral at best.

Daily Pivots: (S1) 1.2580; (P) 1.2623; (R1) 1.2656; More…

Break of 1.2690 minor support suggests that GBP/USD’s pull back from 1.2847 has completed. Intraday bias is back on the upside for retesting 1.2847 first. Firm break there will resume larger up trend from 1.0351. On the downside, though, break of 1.2589 will extend the fall to 55 D EMA (now at 1.2529).

In the bigger picture, the strong support from 55 W EMA (now at 1.2341) is a medium term bullish sign. Outlook will stay bullish as long as 1.2306 support holds. Rise from 1.0351 medium term bottom (2022 low) is expected to extend further to retest 1.4248 key resistance (2021 high).

Daily Pivots: (S1) 1.2580; (P) 1.2623; (R1) 1.2656; More…

Intraday bias in GBP/USD remains mildly on the downside as fall from 1.2847 short term top is in progress. Considering bearish divergence condition in D MACD, sustained break of 55 D EMA (now at 1.2529) will argue that it’s already in correction to larger up trend and target 1.2306 support. On the upside, though, break of 1.2690 minor resistance will bring retest of 1.2847 instead.

In the bigger picture, the strong support from 55 W EMA (now at 1.2341) is a medium term bullish sign. Outlook will stay bullish as long as 1.2306 support holds. Rise from 1.0351 medium term bottom (2022 low) is expected to extend further to retest 1.4248 key resistance (2021 high).

Daily Pivots: (S1) 1.2577; (P) 1.2665; (R1) 1.2723; More…

A short term top should be in place at 1.2847 in GBP/USD. Intraday bias is now on the downside for 55 D EMA (now at 1.2531). Considering bearish divergence condition in D MACD, sustained break of the EMA will argue that it’s already in correction to larger up trend and target 1.2306 support. On the upside, though, break of 1.2690 minor resistance will bring retest of 1.2847 instead.

In the bigger picture, the strong support from 55 W EMA (now at 1.2341) is a medium term bullish sign. Outlook will stay bullish as long as 1.2306 support holds. Rise from 1.0351 medium term bottom (2022 low) is expected to extend further to retest 1.4248 key resistance (2021 high).

Daily Pivots: (S1) 1.2577; (P) 1.2665; (R1) 1.2723; More…

Focus stays on 1.2628 support in GBP/USD. Firm break there will bring deeper fall to 55 D EMA (now at 1.2531). Considering bearish divergence condition in D MACD, sustained break of the EMA will argue that it’s already in correction to larger up trend and target 1.2306 support. Nevertheless, rebound from current level will retain near term bullishness for up trend resumption through 1.2847 later.

In the bigger picture, the strong support from 55 W EMA (now at 1.2341) is a medium term bullish sign. Outlook will stay bullish as long as 1.2306 support holds. Rise from 1.0351 medium term bottom (2022 low) is expected to extend further to retest 1.4248 key resistance (2021 high).

Daily Pivots: (S1) 1.2715; (P) 1.2738; (R1) 1.2771; More…

Immediate focus is now on 1.2628 support in GBP/USD. Break there will bring deeper fall to 55 D EMA (now at 1.2526). Considering bearish divergence condition in D MACD, sustained break of the EMA will argue that it’s already in correction to larger up trend and target 1.2306 support. Nevertheless, rebound from current level will retain near term bullishness for up trend resumption through 1.2847 later.

In the bigger picture, the strong support from 55 W EMA (now at 1.2341) is a medium term bullish sign. Outlook will stay bullish as long as 1.2306 support holds. Rise from 1.0351 medium term bottom (2022 low) is expected to extend further to retest 1.4248 key resistance (2021 high).

Daily Pivots: (S1) 1.2683; (P) 1.2716; (R1) 1.2744; More…

Intraday bias in GBP/USD stays neutral as consolidation continues. On the upside, firm break of 1.2847 will resume larger up trend and target 100% projection of 1.1801 to 1.2678 from 1.2306 at 1.3183 next. However, firm break of 1.2628 will turn bias to the downside, for deeper fall to 1.2306 support instead.

In the bigger picture, the strong support from 55 W EMA (now at 1.2341) is a medium term bullish sign. Outlook will stay bullish as long as 1.2306 support holds. Rise from 1.0351 medium term bottom (2022 low) is expected to extend further to retest 1.4248 key resistance (2021 high).

Daily Pivots: (S1) 1.2683; (P) 1.2716; (R1) 1.2744; More…

GBP/USD is extending the consolidation from 1.2847 and intraday bias remains neutral. Further rally is expected as long as 1.2628 support holds. On the upside, firm break of 1.2847 will resume larger up trend and target 100% projection of 1.1801 to 1.2678 from 1.2306 at 1.3183 next. However, firm break of 1.2628 will turn bias to the downside, for deeper fall to 1.2306 support instead.

In the bigger picture, the strong support from 55 W EMA (now at 1.2341) is a medium term bullish sign. Outlook will stay bullish as long as 1.2306 support holds. Rise from 1.0351 medium term bottom (2022 low) is expected to extend further to retest 1.4248 key resistance (2021 high).

Daily Pivots: (S1) 1.2683; (P) 1.2719; (R1) 1.2753; More…

Intraday bias in GBP/USD remains neutral as consolidation from 1.2847 is still in progress. Further rally is expected as long as 1.2628 support holds. On the upside, firm break of 1.2847 will resume larger up trend and target 100% projection of 1.1801 to 1.2678 from 1.2306 at 1.3183 next. However, firm break of 1.2628 will turn bias to the downside, for deeper fall to 1.2306 support instead.

In the bigger picture, the strong support from 55 W EMA (now at 1.2341) is a medium term bullish sign. Outlook will stay bullish as long as 1.2306 support holds. Rise from 1.0351 medium term bottom (2022 low) is expected to extend further to retest 1.4248 key resistance (2021 high).