Daily Pivots: (S1) 1.2205; (P) 1.2242; (R1) 1.2286; More…

GBP/USD is still staying in range of 1.1932/2666 and intraday bias remains neutral. Outlook stays bearish as long as 1.2666 resistance holds. On the downside, break of 1.1932 will resume larger down trend from 1.4248. However, firm break of 1.2666 will suggest medium term bottoming and bring stronger rebound back towards 1.3158 support turned resistance.

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 1.3175).

Daily Pivots: (S1) 1.2141; (P) 1.2254; (R1) 1.2335; More…

Range trading continues in GBP/USD and intraday bias remains neutral. Outlook stays bearish as long as 1.2666 resistance holds. On the downside, break of 1.1932 will resume larger down trend from 1.4248. However, firm break of 1.2666 will suggest medium term bottoming and bring stronger rebound back towards 1.3158 support turned resistance.

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 1.3175).

Daily Pivots: (S1) 1.2141; (P) 1.2254; (R1) 1.2335; More…

Intraday bias in GBP/USD stays neutral as consolidations continues. But outlook stays bearish as long as 1.2666 resistance holds. On the downside, break of 1.1932 will resume larger down trend from 1.4248. However, firm break of 1.2666 will suggest medium term bottoming and bring stronger rebound back towards 1.3158 support turned resistance.

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 1.3175).

GBP/USD dived further to as low as 1.1932 last week but quickly recovered. Initial bias remains neutral this week for some consolidations. But outlook stays bearish as long as 1.2666 resistance holds. On the downside, break of 1.1932 will resume larger down trend from 1.4248. However, firm break of 1.2666 will suggest medium term bottoming and bring stronger rebound back towards 1.3158 support turned resistance.

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 1.3175).

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.

Daily Pivots: (S1) 1.2126; (P) 1.2266; (R1) 1.2491; More…

Range trading continues in GBP/USD and intraday bias remains neutral. Outlook stays bearish with 1.2666 resistance intact. On the downside, break of 1.1932 will resume larger down trend from 1.4248. However, firm break of 1.2666 will suggest medium term bottoming and bring stronger rebound back towards 1.3158 support turned resistance.

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 1.3175).

Daily Pivots: (S1) 1.2126; (P) 1.2266; (R1) 1.2491; More…

GBP/USD’s rebound from 1.1932 extends higher today but stays below 1.2666 resistance. Intraday bias remains neutral first and outlook stays bearish. Break of 1.1932 will resume larger down trend from 1.4248. However, firm break of 1.2666 will suggest medium term bottoming and bring stronger rebound back towards 1.3158 support turned resistance.

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 1.3175).

Daily Pivots: (S1) 1.2040; (P) 1.2123; (R1) 1.2255; More…

GBP/USD is staying in consolidation above 1.1932 and intraday bias remains neutral. Outlook stays bearish with 1.2666 resistance intact. On the downside, sustained break of 61.8% projection of 1.3297 to 1.2154 from 1.2666 at 1.1960 will extend larger down trend to 100% projection at 1.1523 next.

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. On resumption, next target is 1.1409 low.

Daily Pivots: (S1) 1.2040; (P) 1.2123; (R1) 1.2255; More…

Intraday bias in GBP/USD remains neutral for consolidation above 1.1932 temporary low. Outlook stays bearish with 1.2666 resistance intact. On the downside, sustained break of 61.8% projection of 1.3297 to 1.2154 from 1.2666 at 1.1960 will extend larger down trend to 100% projection at 1.1523 next.

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. On resumption, next target is 1.1409 low.

Daily Pivots: (S1) 1.1886; (P) 1.2046; (R1) 1.2158; More…

A temporary low is formed at 1.1932, after hitting 61.8% projection of 1.3297 to 1.2154 from 1.2666 at 1.1960. Intraday bias in GBP/USD is turned neutral first. But outlook will stay bearish as long as 1.2666 resistance holds. Sustained break of 1.1932/600 will target 100% projection at 1.1523 next.

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. On resumption, next target is 1.1409 low.

Daily Pivots: (S1) 1.1886; (P) 1.2046; (R1) 1.2158; More…

Intraday bias in GBP/USD remains on the downside as down trend is still in progress. Sustained trading below 61.8% projection of 1.3297 to 1.2154 from 1.2666 at 1.1960 will pave the way to 100% projection at 1.1523 next. On the upside, above 1.2206 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

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. On resumption, next target is 1.1409 low.

Daily Pivots: (S1) 1.2051; (P) 1.2188; (R1) 1.2269; More…

GBP/USD’s down trend is still in progress. Intraday bias remains on the downside for 61.8% projection of 1.3297 to 1.2154 from 1.2666 at 1.1960. Break there will target 100% projection at 1.1523 next. On the upside, above 1.2206 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

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. On resumption, next target is 1.1409 low.

Daily Pivots: (S1) 1.2051; (P) 1.2188; (R1) 1.2269; More…

Intraday bias in GBP/USD remains on the downside at this point. Break of 1.2154 confirms down trend resumption. Next target is Next target is 61.8% projection of 1.3297 to 1.2154 from 1.2666 at 1.1960. Break there will target 100% projection at 1.1523 next. On the upside, above 1.2310 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

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. On resumption, next target is 1.1409 low.

Daily Pivots: (S1) 1.2242; (P) 1.2380; (R1) 1.2459; More…

GBP/USD accelerates lower today and intraday bias remains on the downside. Decisive break of 1.2154 low will will resume larger down trend. Next target is 61.8% projection of 1.3297 to 1.2154 from 1.2666 at 1.1960. Break there will target 100% projection at 1.1523 next. On the upside, above 1.2310 minor resistance will delay the bearish case, and turn intraday bias neutral first.

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. On resumption, next target is 1.1409 low.

Daily Pivots: (S1) 1.2242; (P) 1.2380; (R1) 1.2459; More…

Intraday bias in GBP/USD remains on the downside for retesting 1.2154 low. Firm break there will resume larger down trend. Next target is 61.8% projection of 1.3297 to 1.2154 from 1.2666 at 1.1960. On the upside, above 1.2429 minor resistance will delay the bearish case, and turn intraday bias neutral first.

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.

GBP/USD’s decline last week suggests that rebound from 1.2154 has completed at 1.2666 already. Initial bias stays on the downside this week for 1.2154 low first. Firm break there will resume larger down trend. Next target is 61.8% projection of 1.3297 to 1.2154 from 1.2666 at 1.1960. On the upside, above 1.2457 minor resistance will turn intraday bias neutral first.

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.

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 downside from 2.1161 (2007 high) at a later stage.

Daily Pivots: (S1) 1.2469; (P) 1.2514; (R1) 1.2540; More…

GBP/USD’s break of 1.2429 minor support argues that rebound from 1.2154 has completed at 1.2666 already. Intraday bias is back on the downside for retesting 1.2154 low. Firm break there will resume larger down trend. Next target is 61.8% projection of 1.3297 to 1.2154 from 1.2666 at 1.1960. For now, risk will stay on the downside as long as 1.2666 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 1.2999 support turned resistance holds. On resumption, next target is 1.1409 low.

Daily Pivots: (S1) 1.2469; (P) 1.2514; (R1) 1.2540; More…

Intraday bias in GBP/USD remains neutral and outlook is unchanged. 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 1.2698) 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) 1.2500; (P) 1.2549; (R1) 1.2585; More…

Intraday bias in GBP/USD remains neutral as range trading continues. 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 1.2698) 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) 1.2500; (P) 1.2549; (R1) 1.2585; More…

Range trading continues in GBP/USD 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 1.2698) 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) 1.2483; (P) 1.2541; (R1) 1.2652; More…

Intraday bias in GBP/USD remains neutral for the moment. 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.