Daily Pivots: (S1) 1.2883; (P) 1.2977; (R1) 1.3031; More…

GBP/USD rebounds ahead of 1.2845 minor support but stays below 1.3082 temporary top so far. Intraday bias remains neutral first and further rise is in favor. On the upside, above 1.3082 will resume the rebound from 1.2675 for 1.3482 resistance. Nevertheless, break of 1.2845 will indicate that fall from 1.3482 is not over. Intraday bias will be turned back to the downside for 38.2% retracement of 1.1409 to 1.3482 at 1.2690.

In the bigger picture, focus is back on 1.3415 key resistance now. Decisive break there should also come with sustained trading above 55 month EMA (now at 1.3312). 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.

Daily Pivots: (S1) 1.2803; (P) 1.2837; (R1) 1.2905; More…

Intraday bias in GBP/USD remains neutral for consolidation above 1.2725 temporary low. Further decline is expected with 1.3108 resistance intact. Sustained break of 1.2736 will extend the corrective fall from 1.3514 to 61.8% retracement at 1.2552. We’d look for strong support from there to bring rebound. Break of 1.3018 will indicate short term bottoming and turn bias back to the upside instead.

In the bigger picture, current decline from 1.3514 is seen as corrective the rally form 1.1958. Such rally is expected to resume latter to 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. However, sustained break of 1.2582 resistance turned support will dampen these views and bring retest of 1.1958 low instead.

Daily Pivots: (S1) 1.2679; (P) 1.2711; (R1) 1.2740; More…

Range trading continues in GBP/USD and intraday bias remains neutral. Deeper pull back cannot be ruled out. But downside should be contained above 1.2499 support to bring rebound. On the upside, firm break of 1.2784 resistance will suggest that consolidation pattern has completed. Further rise should be seen through 1.2826 to resume the rise from 1.2036. Next target will be 1.3141 high.

In the bigger picture, price actions from 1.3141 medium term top are seen as a corrective pattern to up trend from 1.0351 (2022 low). Rise from 1.2036 is seen as the second leg that’s in progress. Upside should be limited by 1.3141 to bring the third leg of the pattern. Meanwhile, break of 1.2499 support will argue that the third leg has already started for 38.2% retracement of 1.0351 (2022 low) to 1.3141 at 1.2075 again.

Daily Pivots: (S1) 1.2173; (P) 1.2211; (R1) 1.2270; More…

Intraday bias in GBP/USD stays on the upside at this point. Rise from 1.1840 should target a test on 1.2445 high. Decisive break there will resume whole rally from 1.0351 to 1.2759 fibonacci level. On the downside, break of 1.2086 minor support will turn intraday bias neutral 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) 1.2163; (P) 1.2207; (R1) 1.2246; More…

Intraday bias in GBP/USD remains on the downside as decline from 1.2705 continues. Current fall should target a test on 1.1946/86 support zone. As noted before, consolidation pattern from 1.1946 should have completed with three waves to 1.2705 already. Break of 1.1946 will confirm our bearish view and resume the larger down trend. On the upside, break of 1.2346 support turned resistance is needed to invalidate this view. Otherwise, outlook will remain cautiously bearish in case of recovery.

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.

Daily Pivots: (S1) 1.1655; (P) 1.1700; (R1) 1.1750; More…

Intraday bias in GBP/USD stays on the downside despite some recovery. Current decline should target 1.1409 long term support. On the upside, above 1.1899 minor resistance will turn intraday bias neutral again. But outlook will stay bearish as long as 1.2292 resistance holds, in case of recovery.

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 1.2292 resistance holds. Next target is 1.1409 low. However, firm break of 1.2292 will bring stronger rise back to 55 week EMA (now at 1.2859).

Daily Pivots: (S1) 1.2507; (P) 1.2639; (R1) 1.2708; More…

Intraday bias in GBP/USD remains on the downside as down trend continues. Next target is 161.8% projection of 1.3641 to 1.2999 from 1.3297 at 1.2258. On the upside, above 1.2771 minor resistance will turn intraday bias neutral and bring consolidation first, before staging another decline.

In the bigger picture, rise from 1.1409 (2020 low) has completed at 1.4248, ahead 1.4376 long term resistance (2018 high). 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 1.3158 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 1.2769; (P) 1.2803; (R1) 1.2832; More…

GBP/USD continues to lose downside momentum as seen in 4 hour MACD. But with 1.2915 resistance intact, deeper decline is expected. Current fall from 1.3267 should be targeting to 1.2588 key near term support. As noted before, we’re favoring the case that correction from 1.1946 is completed at 1.3267. Decisive break of 1.2588 will confirm our view and target a test on 1.1946 low. Though, break of 1.2915 will indicate short term bottoming and bring stronger rebound.

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) 1.2915; (P) 1.3047; (R1) 1.3112; More….

Fall from 1.3482 short term top is still in progress. Intraday bias in GBP/USD remains on the downside for 38.2% retracement of 1.1409 to 1.3482 at 1.2690. Reactions from there will decide whether it’s a corrective decline or reversal. On the upside, above 1.3067 minor resistance will turn intraday bias neutral first.

In the bigger picture, immediate focus is still on 1.3514 resistance. Decisive break there should at least confirm medium term bottoming at 1.1409. Further rise should be seen to 1.4376 resistance first. Though, rejection by 1.3514 will retain bearishness for resuming the down trend from 2.1161 (2007 high) at a later stage.

Daily Pivots: (S1) 1.2838; (P) 1.2899; (R1) 1.2946; More…

Intraday bias in GBP/USD remains on the downside at this point. Current decline, as part of the down trend from 1.4376, should target 100% projection of 1.3362 to 1.2956 from 1.3212 at 1.2806 first. Break will target 161.8% projection at 1.2555 next. On the upside, above 1.2959 minor resistance will turn bias neutral and bring consolidation. But upside should be limited below 1.3212 resistance to bring fall resumption.

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 (now at 1.4141). Fall from 1.4376 has met 61.8% retracement of 1.1946 (2016 low) to 1.4376 at 1.2874 already. Decisive break of 1.2874 will raise the chance of long term down trend resumption through 1.1946 low. On the upside, break of 1.3212 resistance is needed to be the first indication of medium term bottoming. Otherwise, outlook will remain bearish even 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) 1.2594; (P) 1.2644; (R1) 1.2672; More…

Further decline is expected in GBP/USD as long as 1.2702 resistance holds. Sustained trading below 1.2633 resistance turned support will argue that whole rise from 1.2298 has completed, and target 1.2445 and below. On the upside, however, firm break of 1.2702 resistance will argue that pull back from 1.2859 has completed, and bring retest of this high instead.

In the bigger picture, price actions from 1.3141 medium term top are seen as a corrective pattern that is still in progress. Break of 1.2445 support will confirm that another falling leg has started and target 1.2036 cluster support again (38.2% retracement of 1.0351 (2022 low) to 1.3141 at 1.2075. Nevertheless, break of 1.2892 resistance will argue that larger up trend from 1.0351is ready to resume through 1.3141.

Daily Pivots: (S1) 1.4031; (P) 1.4188; (R1) 1.4294; More…..

Intraday bias in GBP/USD remains neutral for consolidation below 1.4345 temporary top. More sideway trading could be seen with risk of another fall. But downside of retreat should be contained above 1.3651 resistance turned support and bring another rise. Above 1.4345 will extend medium term rally to 100% projection of 1.2108 to 1.3651 from 1.3038 at 1.4581 next.

In the bigger picture, sustained break of 1.3835 key resistance level indicates that rebound from 1.1946 is at least correcting the long term down from from 2007 high at 2.1161. Further rise should now be seen back to 38.2% retracement of 2.1161 (2007 high) to 1.1946 (2016 low) at 1.5466. Medium term outlook will stay bullish as long as 1.3038 support holds, in case of pull back.

Daily Pivots: (S1) 1.2178; (P) 1.2213; (R1) 1.2271; More…

Intraday bias in GBP/USD remains neutral. Consolidation from 1.2343 could extend. But further rise remains mildly in favor as long as 1.1898 support holds. On the upside, break of 1.2343 will resume the rally from 1.0351 and target 1.2759 medium term fibonacci level next. However, firm break of 1.1898 support will confirm short term topping and turn bias back to the downside.

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) 1.3065; (P) 1.3109; (R1) 1.3183; More…

Intraday bias in GBP/USD stays on the upside a rebound from 1.2954 should target 1.3284 resistance. Break will pave the way to retest 1.3514 high. On the downside, below 1.3034 minor support will turn bias to the downside for retesting 38.2% retracement of 1.1958 to 1.3514 at 1.2920.

In the bigger picture, rise from 1.1958 medium term bottom is expected to extend higher to retest 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

Daily Pivots: (S1) 1.2291; (P) 1.2339; (R1) 1.2370; More…

GBP/USD recovers mildly today but there is no clear sign of bottoming yet. Intraday bias stays on the downside for the moment. Current decline is seen as correcting whole up trend from 1.0351. Deeper fall should be seen to 1.1801 cluster support (38.2% retracement of 1.0351 to 1.2678 at 1.1789). On the upside, above 1.2468 minor resistance will turn intraday bias neutral first.

In the bigger picture, as long as 1.1801 support holds, rise from 1.0351 medium term bottom (2022 low) is expected to extend further. Sustained break of 61.8% retracement of 1.4248 (2021 high) to 1.0351 at 1.2759 will add to the case of long term bullish trend reversal. However, firm break of 1.1801 will indicate rejection by 1.2759, and bring deeper decline, even as a correction.

Daily Pivots: (S1) 1.2184; (P) 1.2213; (R1) 1.2260; More….

GBP/USD’s decline is still in progress and intraday bias remains on the downside. Corrective rebound from 1.1409 should have completed. Deeper fall would be seen to retest 1.1409 low. On the upside, above 1.2266 minor resistance will turn intraday bias neutral first.

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) 1.2500; (P) 1.2551; (R1) 1.2600; More…

Intraday bias in GBP/USD remains mildly on the downside at this point. Fall from 1.2731 short term top is in progress for 55 D EMA (now at 1.2445). Sustained break there will bring retest of 1.2036 low. On the upside, above 1.2611 minor resistance will turn intraday bias neutral first.

In the bigger picture, price actions from 1.3141 medium term top are seen as a corrective pattern to rise from 1.0351 (2022 low). Rise from 1.2036 is seen as the second leg, that could still extend through 1.2731. But upside should be limited by 1.3141 o bring the third leg of the pattern. Meanwhile, sustained trading below 55 EMA will argue that the third leg has already started for 38.2% retracement of 1.0351 (2022 low) to 1.3141 at 1.2075 again, and possibly below.

Daily Pivots: (S1) 1.3793; (P) 1.3872; (R1) 1.3919; More…

Intraday bias in GBP/USD remains neutral for the moment. On the upside, break of 1.4008 should resume the rebound from 1.3668, confirm that correction from 1.4240 has completed at 1.3668 already. Further rise should then be seen to retest 1.4240 high next. However, break of 1.3668 will extend the correction from 1.4240 with another falling leg.

In the bigger picture, as long as 1.3482 resistance turned support holds, up trend from 1.1409 should still continue. Decisive break of 1.4376 resistance will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. However, firm break of 1.3482 support will argue that the rise from 1.1409 has completed and bring deeper fall to 1.2675 support and below.

Daily Pivots: (S1) 1.3792; (P) 1.3841; (R1) 1.3894; More….

Intraday bias in GBP/USD remains neutral at this point. With 1.3929 minor resistance intact, deeper fall is still expected in the pair. Break of 1.3711 will resume the decline from 1.4345 through 1.3651 resistance turned support. At this point, we’ll look for strong support from 38.2% retracement of 1.1946 to 1.4345 at 1.3429 to contain downside and bring rebound. However, break of 1.3929 minor resistance will the first sign of near term reversal. Intraday bias will be turned back to the upside for 1.4144 resistance for confirmation.

In the bigger picture, as long as 1.3038 support holds, medium term outlook in GBP/USD will remains bullish. Rise from 1.1946 is at least correcting the long term down from 2007 high at 2.1161. Further rally would be seen back to 38.2% retracement of 2.1161 (2007 high) to 1.1946 (2016 low) at 1.5466. However, GBP/USD fails to sustain above 55 month EMA (now at 1.4259) so far. Break of 1.3038 support, will suggest that rise from 1.1946 has completed and will turn outlook bearish for retesting this low.