GBP/USD’s down trend resumed last week by breaking 1.1404 support. Initial bias stays on the downside this week for 61.8% projection of 1.3748 to 1.1759 from 1.2292 at 1.1063. On the upside, break of 1.1737 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, based on current momentum, fall from 1.4248 (2018 high) is probably resuming long term down trend from 2.1161 (2007 high). Sustained break of 1.1409 will target 61.8% projection of 1.7190 (2014 high) to 1.1409 (2020 low) from 1.4248 (2021 high) at 1.0675. This will remain the favored case for now as long as 1.2292 resistance holds.

In the longer term picture, long term down trend from 2.1161 (2007) high is still in progress. Firm break of 1.1409 will target 61.8% projection of 1.7190 (2014 high) to 1.1409 (2020 low) from 1.4248 (2021 high) at 1.0675.

Daily Pivots: (S1) 1.1434; (P) 1.1495; (R1) 1.1529; More…

Break of 1.1404/9 support zone indicates down trend resumption in GBP/USD. Intraday bias is back on the downside for 61.8% projection of 1.3748 to 1.1759 from 1.2292 at 1.1063. On the upside, break of 1.1737 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, based on current momentum, fall from 1.4248 (2018 high) is probably resuming long term down trend from 2.1161 (2007 high). Sustained break of 1.1409 will target 61.8% projection of 1.7190 (2014 high) to 1.1409 (2020 low) from 1.4248 (2021 high) at 1.0675. This will remain the favored case for now as long as 1.2292 resistance holds.

Daily Pivots: (S1) 1.1434; (P) 1.1495; (R1) 1.1529; More…

Intraday bias in GBP/USD remains neutral first, with near term outlook staying bearish. On the downside, decisive break of 1.1404/9 will resume larger down trend. Next target is 61.8% projection of 1.3748 to 1.1759 from 1.2292 at 1.1063. On the upside, above 1.1737 minor resistance will resume the rebound from 1.1404 to 55 day EMA (now at 1.1871).

In the bigger picture, based on current momentum, fall from 1.4248 (2018 high) is probably resuming long term down trend from 2.1161 (2007 high). Sustained break of 1.1409 will target 61.8% projection of 1.7190 (2014 high) to 1.1409 (2020 low) from 1.4248 (2021 high) at 1.0675. This will remain the favored case for now as long as 1.2292 resistance holds.

Daily Pivots: (S1) 1.1483; (P) 1.1537; (R1) 1.1593; More…

Intraday bias in GBP/USD stays neutral and outlook remains bearish. On the downside, decisive break of 1.1404/9 will resume larger down trend. Next target is 61.8% projection of 1.3748 to 1.1759 from 1.2292 at 1.1063. On the upside, above 1.1737 minor resistance will resume the rebound from 1.1404 to 55 day EMA (now at 1.1904).

In the bigger picture, based on current momentum, fall from 1.4248 (2018 high) is probably resuming long term down trend from 2.1161 (2007 high). Sustained break of 1.1409 will target 61.8% projection of 1.7190 (2014 high) to 1.1409 (2020 low) from 1.4248 (2021 high) at 1.0675. This will remain the favored case for now as long as 1.2292 resistance holds.

Daily Pivots: (S1) 1.1483; (P) 1.1537; (R1) 1.1593; More…

Intraday bias in GBP/USD remains neutral for the moment. On the downside, decisive break of 1.1404/9 will resume larger down trend. Next target is 61.8% projection of 1.3748 to 1.1759 from 1.2292 at 1.1063. On the upside, above 1.1737 minor resistance will resume the rebound from 1.1404 to 55 day EMA (now at 1.1904).

In the bigger picture, based on current momentum, fall from 1.4248 (2018 high) is probably resuming long term down trend from 2.1161 (2007 high). Sustained break of 1.1409 will target 61.8% projection of 1.7190 (2014 high) to 1.1409 (2020 low) from 1.4248 (2021 high) at 1.0675. This will remain the favored case for now as long as 1.2292 resistance holds.

Daily Pivots: (S1) 1.1411; (P) 1.1574; (R1) 1.1657; More…

GBP/USD recovered well ahead of 1.1404/9 support zone and intraday bias is turned neutral first. On the downside, decisive break of 1.1404/9 will resume larger down trend. Next target is 61.8% projection of 1.3748 to 1.1759 from 1.2292 at 1.1063. On the upside, above 1.1737 minor resistance will resume the rebound from 1.1404 to 55 day EMA (now at 1.1917).

In the bigger picture, based on current momentum, fall from 1.4248 (2018 high) is probably resuming long term down trend from 2.1161 (2007 high). Sustained break of 1.1409 will target 61.8% projection of 1.7190 (2014 high) to 1.1409 (2020 low) from 1.4248 (2021 high) at 1.0675. This will remain the favored case for now as long as 1.2292 resistance holds.

Daily Pivots: (S1) 1.1411; (P) 1.1574; (R1) 1.1657; More…

Intraday bias in GBP/USD is mildly on the downside for retesting 1.1404/9 support zone. Decisive break there will resume larger down trend. On the upside, above 1.1737 minor resistance will resume the rebound from 1.1404 to 55 day EMA (now at 1.1917).

In the bigger picture, based on current momentum, fall from 1.4248 (2018 high) is probably resuming long term down trend from 2.1161 (2007 high). Sustained break of 1.1409 will target 61.8% projection of 1.7190 (2014 high) to 1.1409 (2020 low) from 1.4248 (2021 high) at 1.0675. This will remain the favored case for now as long as 1.2292 resistance holds.

Daily Pivots: (S1) 1.1618; (P) 1.1665; (R1) 1.1728; More…

GBP/USD’s break of 1.1550 minor support suggests that rebound from 1.1404 has completed at 1.1737. Intraday bias is back on the downside for retesting 1.1404/9 support zone. Decisive break there will resume larger down trend. On the upside, above 1.1737 minor resistance will resume the rebound from 1.1404 to 55 day EMA (now at 1.1933).

In the bigger picture, based on current momentum, fall from 1.4248 (2018 high) is probably resuming long term down trend from 2.1161 (2007 high). Sustained break of 1.1409 will target 61.8% projection of 1.7190 (2014 high) to 1.1409 (2020 low) from 1.4248 (2021 high) at 1.0675. This will remain the favored case for now as long as 1.2292 resistance holds.

Daily Pivots: (S1) 1.1618; (P) 1.1665; (R1) 1.1728; More…

GBP/USD’s rebound from 1.1404 short term bottom is in progress. Intraday bias stays on the upside for 55 day EMA (now at 1.1924). On the downside, below 1.1550 minor support will turn bias back to the downside. Decisive break of 1.1409 will resume larger down trend.

In the bigger picture, based on current momentum, fall from 1.4248 (2018 high) is probably resuming long term down trend from 2.1161 (2007 high). Sustained break of 1.1409 will target 61.8% projection of 1.7190 (2014 high) to 1.1409 (2020 low) from 1.4248 (2021 high) at 1.0675. This will remain the favored case for now as long as 1.2292 resistance holds.

Daily Pivots: (S1) 1.1509; (P) 1.1578; (R1) 1.1659; More…

Intraday bias in GBP/USD remains mildly on the upside as rebound from 1.1404 short term bottom is extending. Further rise would be seen to 55 day EMA (now at 1.1942). On the downside, below 1.1550 minor support will turn bias back to the downside. Decisive break of 1.1409 will resume larger down trend.

In the bigger picture, based on current momentum, fall from 1.4248 (2018 high) is probably resuming long term down trend from 2.1161 (2007 high). Sustained break of 1.1409 will target 61.8% projection of 1.7190 (2014 high) to 1.1409 (2020 low) from 1.4248 (2021 high) at 1.0675. This will remain the favored case for now as long as 1.2292 resistance holds.

Daily Pivots: (S1) 1.1509; (P) 1.1578; (R1) 1.1659; More…

GBP/USD’s rebound from 1.1404 short term bottom is in progress today. Intraday bias stays mildly on the upside for 55 day EMA (now at 1.1942). On the downside, below 1.1550 minor support will turn bias back to the downside. Decisive break of 1.1409 will resume larger down trend.

In the bigger picture, based on current momentum, fall from 1.4248 (2018 high) is probably resuming long term down trend from 2.1161 (2007 high). Sustained break of 1.1409 will target 61.8% projection of 1.7190 (2014 high) to 1.1409 (2020 low) from 1.4248 (2021 high) at 1.0675. This will remain the favored case for now as long as 1.2292 resistance holds.

GBP/USD edged lower to 1.1404 last week but recovered after drawing support from 1.1409 low. Initial bias is mildly on the upside for further rebound to 55 day EMA (now at 1.1942). On the downside, decisive break of 1.1409 will resume larger down trend.

In the bigger picture, based on current momentum, fall from 1.4248 (2018 high) is probably resuming long term down trend from 2.1161 (2007 high). Sustained break of 1.1409 will target 61.8% projection of 1.7190 (2014 high) to 1.1409 (2020 low) from 1.4248 (2021 high) at 1.0675. This will remain the favored case for now as long as 1.2292 resistance holds.

In the longer term picture, long term down trend from 2.1161 (2007) high is still in progress. Firm break of 1.1409 will target 61.8% projection of 1.7190 (2014 high) to 1.1409 (2020 low) from 1.4248 (2021 high) at 1.0675.

Daily Pivots: (S1) 1.1456; (P) 1.1508; (R1) 1.1556; More…

GBP/USD’s break of 1.1608 minor resistance suggests short term bottoming at 1.1404, on bullish convergence condition in 4 hour MACD, after defending 1.1409 low. Intraday bias is back on the upside for 55 day EMA (now at 1.1942). On the downside, decisive break of 1.1409 will resume larger down trend.

In the bigger picture, based on current momentum, fall from 1.4248 (2018 high) is probably resuming long term down trend from 2.1161 (2007 high). Sustained break of 1.1409 will target 61.8% projection of 1.7190 (2014 high) to 1.1409 (2020 low) from 1.4248 (2021 high) at 1.0675. This will remain the favored case for now as long as 1.2292 resistance holds.

Daily Pivots: (S1) 1.1456; (P) 1.1508; (R1) 1.1556; More…

Intraday bias in GBP/USD stays neutral at this point. Considering bullish convergence condition in 4 hour MACD, break of 1.1608 resistance will confirm short term bottoming at 1.1404, after defending 1.1409 low. Intraday bias will back on the upside for 55 day EMA (now at 1.1942). ON the downside, decisive break of 1.1409 will resume larger down trend to 61.8% projection of 1.3748 to 1.1759 from 1.2292 at 1.1063 next.

In the bigger picture, based on current momentum, fall from 1.4248 (2018 high) is probably resuming long term down trend from 2.1161 (2007 high). Sustained break of 1.1409 will target 61.8% projection of 1.7190 (2014 high) to 1.1409 (2020 low) from 1.4248 (2021 high) at 1.0675. This will remain the favored case for now as long as 1.2292 resistance holds.

Daily Pivots: (S1) 1.1449; (P) 1.1494; (R1) 1.1583; More…

Intraday bias in GBP/USD remains neutral for the moment. Further decline is in favor as long as 1.1608 minor resistance holds. Firm break of 1.1409 will resume larger down trend to 61.8% projection of 1.3748 to 1.1759 from 1.2292 at 1.1063 next. Considering bullish convergence condition in 4 hour MACD, break of 1.1608 will indicate short term bottoming, and turn bias back to the upside for 55 day EMA (now at 1.1956).

In the bigger picture, based on current momentum, fall from 1.4248 (2018 high) is probably resuming long term down trend from 2.1161 (2007 high). Sustained break of 1.1409 will target 61.8% projection of 1.7190 (2014 high) to 1.1409 (2020 low) from 1.4248 (2021 high) at 1.0675. This will remain the favored case for now as long as 1.2292 resistance holds.

Daily Pivots: (S1) 1.1449; (P) 1.1494; (R1) 1.1583; More…

GBP/USD recovered after hitting 1.1409 long term support, and intraday bias is turned neutral first. Further decline is in favor as long as 1.1608 minor resistance holds. Firm break of 1.1409 will resume larger down trend to 61.8% projection of 1.3748 to 1.1759 from 1.2292 at 1.1063 next. Considering bullish convergence condition in 4 hour MACD, break of 1.1608 will indicate short term bottoming, and turn bias back to the upside for 55 day EMA (now at 1.1956).

In the bigger picture, based on current momentum, fall from 1.4248 (2018 high) is probably resuming long term down trend from 2.1161 (2007 high). Sustained break of 1.1409 will target 61.8% projection of 1.7190 (2014 high) to 1.1409 (2020 low) from 1.4248 (2021 high) at 1.0675. This will remain the favored case for now as long as 1.2292 resistance holds.

Daily Pivots: (S1) 1.1474; (P) 1.1541; (R1) 1.1588; More…

GBP/USD down trend resumed after brief recovery and intraday bias is back on the downside. Firm break of 1.1409 long term support will pave the way to 61.8% projection of 1.3748 to 1.1759 from 1.2292 at 1.1063 next. On the upside, however, break of 1.1608 minor resistance should now indicate short term bottoming, and turn bias back to the upside for stronger rebound.

In the bigger picture, based on current momentum, fall from 1.4248 (2018 high) is probably resuming long term down trend from 2.1161 (2007 high). Sustained break of 1.1409 will target 61.8% projection of 1.7190 (2014 high) to 1.1409 (2020 low) from 1.4248 (2021 high) at 1.0675. This will remain the favored case for now as long as 1.2292 resistance holds.

Daily Pivots: (S1) 1.1474; (P) 1.1541; (R1) 1.1588; More…

Intraday bias in GBP/USD stays neutral for consolidation above 1.1442 temporary low. Upside of recovery should be limited by 1.1899 resistance to bring another decline. On the downside, break of 1.1442 will resume larger down trend for 1.1409 long term support. Firm break there will pave the way to 61.8% projection of 1.3748 to 1.1759 from 1.2292 at 1.1063 next.

In the bigger picture, based on current momentum, fall from 1.4248 (2018 high) is probably resuming long term down trend from 2.1161 (2007 high). Sustained break of 1.1409 will target 61.8% projection of 1.7190 (2014 high) to 1.1409 (2020 low) from 1.4248 (2021 high) at 1.0675. This will remain the favored case for now as long as 1.2292 resistance holds.

Daily Pivots: (S1) 1.1469; (P) 1.1495; (R1) 1.1547; More…

GBP/USD is staying in consolidation above 1.1442 temporary low and intraday bias remains neutral. Upside of recovery should be limited by 1.1899 resistance to bring another decline. On the downside, break of 1.1442 will resume larger down trend for 1.1409 long term support. Firm break there will pave the way to 61.8% projection of 1.3748 to 1.1759 from 1.2292 at 1.1063 next.

In the bigger picture, based on current momentum, fall from 1.4248 (2018 high) is probably resuming long term down trend from 2.1161 (2007 high). Sustained break of 1.1409 will target 61.8% projection of 1.7190 (2014 high) to 1.1409 (2020 low) from 1.4248 (2021 high) at 1.0675. This will remain the favored case for now as long as 1.2292 resistance holds.

Daily Pivots: (S1) 1.1469; (P) 1.1495; (R1) 1.1547; More…

A temporary low was formed at 1.1442 and intraday bias is turned neutral first. Some consolidations would be see but upside should be limited by 1.1899 resistance to bring another decline. On the downside, break of 1.1442 will resume larger down trend for 1.1409 long term support. Firm break there will pave the way to 61.8% projection of 1.3748 to 1.1759 from 1.2292 at 1.1063 next.

In the bigger picture, based on current momentum, fall from 1.4248 (2018 high) is probably resuming long term down trend from 2.1161 (2007 high). Sustained break of 1.1409 will target 61.8% projection of 1.7190 (2014 high) to 1.1409 (2020 low) from 1.4248 (2021 high) at 1.0675. This will remain the favored case for now as long as 1.2292 resistance holds.