Daily Pivots: (S1) 1.3583; (P) 1.3620; (R1) 1.3657; More…

Intraday bias in GBP/USD remains on the upside with 1.3542 minor support intact. Sustained trading above 55 day EMA (now at 1.3725) will target 1.3912 key near term resistance. On the downside, below 1.3542 minor support will retain near term bearishness, and turn bias back to the downside for 1.3410 low.

In the bigger picture, fall from 1.4248 is at least a correction to the up trend from 1.1409 (2020 low). Such correction could extend to 38.2% retracement of 1.1409 to 1.4248 at 1.3164 before completion. However, considering the rejection by 1.4376 key resistance (2018 high), sustained trading below 1.3164 will argue that it’s indeed a bearish trend reversal and would target 61.8% retracement at 1.2493. Nevertheless, break of 1.3912 resistance will revive medium term bullishness and target 1.4248/4376 resistance zone again.

GBP/USD’s rebound from 1.3410 extended higher last week. Further rise is mildly in favor this week as long as 1.3542 minor support holds. Sustained trading above 55 day EMA (now at 1.3727) will target 1.3912 key near term resistance. On the downside, below 1.3542 minor support will retain near term bearishness, and turn bias back to the downside for 1.3410 low.

In the bigger picture, fall from 1.4248 is at least a correction to the up trend from 1.1409 (2020 low). Such correction could extend to 38.2% retracement of 1.1409 to 1.4248 at 1.3164 before completion. However, considering the rejection by 1.4376 key resistance (2018 high), sustained trading below 1.3164 will argue that it’s indeed a bearish trend reversal and would target 61.8% retracement at 1.2493. Nevertheless, break of 1.3912 resistance will revive medium term bullishness and target 1.4248/4376 resistance zone again.

In the longer term picture, a long term bottom should be in place at 1.1409, on bullish convergence condition in monthly MACD. Rise from there would target 38.2% retracement of 2.1161 to 1.1409 at 1.5134. Reaction from there would reveal whether rise from 1.1409 is just a correction, or developing into a long term up trend.

Daily Pivots: (S1) 1.3578; (P) 1.3608; (R1) 1.3645; More…

Intraday bias in GBP/USD is back on the upside as rebound from 1.3410 is trying to resume. Sustained trading above 55 day EMA (now at 1.3730) will affirm near term bullishness and target 1.3912 key resistance. On the downside, though, break of 1.3542 minor support will retain near term bearishness, and turn bias back to the downside for 1.3410 low.

In the bigger picture, fall from 1.4248 is at least a correction to the up trend from 1.1409 (2020 low). Such correction could extend to 38.2% retracement of 1.1409 to 1.4248 at 1.3164 before completion. However, considering the rejection by 1.4376 key resistance (2018 high), sustained trading below 1.3164 will argue that it’s indeed a bearish trend reversal and would target 61.8% retracement at 1.2493. Nevertheless, break of 1.3912 resistance will revive medium term bullishness and target 1.4248/4376 resistance zone again.

Daily Pivots: (S1) 1.3578; (P) 1.3608; (R1) 1.3645; More…

Intraday bias in GBP/USD remains neutral at this point. On the upside, above 1.3646 will resume the rebound from 1.3410 short term bottom for 1.3749 resistance first, which is close to 55 day EMA (now at 1.3730). On the downside, though, below 1.3530 minor support will retain near term bearishness, and turn bias back to the downside for 1.3410 low. Firm break there will extend the fall from 1.4248 and target 1.3164 medium term fibonacci level next.

In the bigger picture, fall from 1.4248 is at least a correction to the up trend from 1.1409 (2020 low). Such correction could extend to 38.2% retracement of 1.1409 to 1.4248 at 1.3164 before completion. However, considering the rejection by 1.4376 key resistance (2018 high), sustained trading below 1.3164 will argue that it’s indeed a bearish trend reversal and would target 61.8% retracement at 1.2493. Nevertheless, break of 1.3912 resistance will revive medium term bullishness and target 1.4248/4376 resistance zone again.

Daily Pivots: (S1) 1.3542; (P) 1.3589; (R1) 1.3633; More…

Intraday bias in GBP/USD remains neutral for the moment. On the upside, above 1.3646 will resume the rebound from 1.3410 short term bottom for 1.3749 resistance first, which is close to 55 day EMA (now at 1.3730). On the downside, though, below 1.3530 minor support will retain near term bearishness, and turn bias back to the downside for 1.3410 low. Firm break there will extend the fall from 1.4248 and target 1.3164 medium term fibonacci level next.

In the bigger picture, fall from 1.4248 is at least a correction to the up trend from 1.1409 (2020 low). Such correction could extend to 38.2% retracement of 1.1409 to 1.4248 at 1.3164 before completion. However, considering the rejection by 1.4376 key resistance (2018 high), sustained trading below 1.3164 will argue that it’s indeed a bearish trend reversal and would target 61.8% retracement at 1.2493. Nevertheless, break of 1.3912 resistance will revive medium term bullishness and target 1.4248/4376 resistance zone again.

Daily Pivots: (S1) 1.3542; (P) 1.3589; (R1) 1.3633; More…

Intraday bias in GBP/USD remains neutral first. On the upside, above 1.3646 will resume the rebound from 1.3410 short term bottom for 1.3749 resistance first, which is close to 55 day EMA (now at 1.3730). On the downside, though, below 1.3530 minor support will retain near term bearishness, and turn bias back to the downside for 1.3410 low. Firm break there will extend the fall from 1.4248 and target 1.3164 medium term fibonacci level next.

In the bigger picture, fall from 1.4248 is at least a correction to the up trend from 1.1409 (2020 low). Such correction could extend to 38.2% retracement of 1.1409 to 1.4248 at 1.3164 before completion. However, considering the rejection by 1.4376 key resistance (2018 high), sustained trading below 1.3164 will argue that it’s indeed a bearish trend reversal and would target 61.8% retracement at 1.2493. Nevertheless, break of 1.3912 resistance will revive medium term bullishness and target 1.4248/4376 resistance zone again.

Daily Pivots: (S1) 1.3591; (P) 1.3620; (R1) 1.3654; More…

GBP/USD retreated after hitting 1.3646 and intraday bias is turned neutral first. On the upside, above 1.3646 will resume the rebound from 1.3410 short term bottom for 1.3749 resistance first, which is close to 55 day EMA (now at 1.3741). On the downside, though, below 1.3530 minor support will retain near term bearishness, and turn bias back to the downside for 1.3410 low. Firm break there will extend the fall from 1.4248 and target 1.3164 medium term fibonacci level next.

In the bigger picture, fall from 1.4248 is at least a correction to the up trend from 1.1409 (2020 low). Such correction could extend to 38.2% retracement of 1.1409 to 1.4248 at 1.3164 before completion. However, considering the rejection by 1.4376 key resistance (2018 high), sustained trading below 1.3164 will argue that it’s indeed a bearish trend reversal and would target 61.8% retracement at 1.2493. Nevertheless, break of 1.3912 resistance will revive medium term bullishness and target 1.4248/4376 resistance zone again.

Daily Pivots: (S1) 1.3591; (P) 1.3620; (R1) 1.3654; More…

Intraday bias in GBP/USD stays mildly on the upside and outlook is unchanged. Rebound from 1.3410 short term bottom would target 1.3749 resistance first, which is close to 55 day EMA (now at 1.3741). On the downside, though, below 1.3530 minor support will retain near term bearishness, and turn bias back to the downside for 1.3410 low. Firm break there will extend the fall from 1.4248 and target 1.3164 medium term fibonacci level next.

In the bigger picture, fall from 1.4248 is at least a correction to the up trend from 1.1409 (2020 low). Such correction could extend to 38.2% retracement of 1.1409 to 1.4248 at 1.3164 before completion. However, considering the rejection by 1.4376 key resistance (2018 high), sustained trading below 1.3164 will argue that it’s indeed a bearish trend reversal and would target 61.8% retracement at 1.2493. Nevertheless, break of 1.3912 resistance will revive medium term bullishness and target 1.4248/4376 resistance zone again.

Daily Pivots: (S1) 1.3547; (P) 1.3594; (R1) 1.3655; More…

Intraday bias in GBP/USD remains mildly on the upside at this point. Rebound from 1.3410 short term bottom would target 1.3749 resistance first, which is close to 55 day EMA (now at 1.3745). On the downside, though, below 1.3530 minor support will retain near term bearishness, and turn bias back to the downside for 1.3410 low. Firm break there will extend the fall from 1.4248 and target 1.3164 medium term fibonacci level next.

In the bigger picture, fall from 1.4248 is at least a correction to the up trend from 1.1409 (2020 low). Such correction could extend to 38.2% retracement of 1.1409 to 1.4248 at 1.3164 before completion. However, considering the rejection by 1.4376 key resistance (2018 high), sustained trading below 1.3164 will argue that it’s indeed a bearish trend reversal and would target 61.8% retracement at 1.2493. Nevertheless, break of 1.3912 resistance will revive medium term bullishness and target 1.4248/4376 resistance zone again.

Daily Pivots: (S1) 1.3547; (P) 1.3594; (R1) 1.3655; More…

With breach of 1.3608 support turned resistance, a short term bottom could be formed at 1.3410 already. Intraday bias is mildly on the upside for 1.3749 resistance first, which is close to 55 day EMA (now at 1.3745). On the downside, though, below 1.3530 minor support will retain near term bearishness, and turn bias back to the downside for 1.3410 low. Firm break there will extend the fall from 1.4248 and target 1.3164 medium term fibonacci level next.

In the bigger picture, fall from 1.4248 is at least a correction to the up trend from 1.1409 (2020 low). Such correction could extend to 38.2% retracement of 1.1409 to 1.4248 at 1.3164 before completion. However, considering the rejection by 1.4376 key resistance (2018 high), sustained trading below 1.3164 will argue that it’s indeed a bearish trend reversal and would target 61.8% retracement at 1.2493. Nevertheless, break of 1.3912 resistance will revive medium term bullishness and target 1.4248/4376 resistance zone again.

Daily Pivots: (S1) 1.3460; (P) 1.3518; (R1) 1.3602; More…

Intraday bias in GBP/USD remains neutral with focus on 1.6308 support turned resistance. Decisive break there will indicate short term bottoming at 1.3410. Intraday bias will be turned back to the upside for 55 day EMA (now at 1.3745) first. On the downside, break of 1.3410 will target 1.3164 medium term fibonacci level next.

In the bigger picture, fall from 1.4248 is at least a correction to the up trend from 1.1409 (2020 low). Such correction could extend to 38.2% retracement of 1.1409 to 1.4248 at 1.3164 before completion. However, considering the rejection by 1.4376 key resistance (2018 high), sustained trading below 1.3164 will argue that it’s indeed a bearish trend reversal and would target 61.8% retracement at 1.2493. Nevertheless, break of 1.3912 resistance will revive medium term bullishness and target 1.4248/4376 resistance zone again.

Daily Pivots: (S1) 1.3460; (P) 1.3518; (R1) 1.3602; More…

Intraday bias in GBP/USD remains neutral for the moment. Further fall is expected this week as long as 1.3608 support turned resistance holds. Break of 1.3410 will target 1.3164 medium term fibonacci level next. However, break of 1.3608 will turn bias back to the upside for stronger rebound.

In the bigger picture, fall from 1.4248 is at least a correction to the up trend from 1.1409 (2020 low). Such correction could extend to 38.2% retracement of 1.1409 to 1.4248 at 1.3164 before completion. However, considering the rejection by 1.4376 key resistance (2018 high), sustained trading below 1.3164 will argue that it’s indeed a bearish trend reversal and would target 61.8% retracement at 1.2493. Nevertheless, break of 1.3912 resistance will revive medium term bullishness and target 1.4248/4376 resistance zone again.

GBP/USD’s fall from 1.4248 resumed last week and hit as low as 1.3410. But bias is turned neutral with subsequent recovery. Further fall is expected this week as long as 1.3608 support turned resistance holds. Break of 1.3410 will target 1.3164 medium term fibonacci level next. However, break of 1.3608 will turn bias back to the upside for stronger rebound.

In the bigger picture, fall from 1.4248 is at least a correction to the up trend from 1.1409 (2020 low). Such correction could extend to 38.2% retracement of 1.1409 to 1.4248 at 1.3164 before completion. However, considering the rejection by 1.4376 key resistance (2018 high), sustained trading below 1.3164 will argue that it’s indeed a bearish trend reversal and would target 61.8% retracement at 1.2493. Nevertheless, break of 1.3912 resistance will revive medium term bullishness and target 1.4248/4376 resistance zone again.

In the longer term picture, a long term bottom should be in place at 1.1409, on bullish convergence condition in monthly MACD. Rise from there would target 38.2% retracement of 2.1161 to 1.1409 at 1.5134. Reaction from there would reveal whether rise from 1.1409 is just a correction, or developing into a long term up trend.

Daily Pivots: (S1) 1.3418; (P) 1.3467; (R1) 1.3519; More…

Intraday bias in GBP/USD remains neutral for the moment. Further fall is expected as long as 1.3608 support turned resistance holds. Below 1.3410 will extend the fall form 1.4248 to 1.3163 medium term fibonacci level next. Nevertheless, firm break of 1.3608 will turn bias back to the upside for stronger rebound.

In the bigger picture, fall from 1.4248 is at least a correction to the up trend from 1.1409 (2020 low). Such correction could extend to 38.2% retracement of 1.1409 to 1.4248 at 1.3164 before completion. However, considering the rejection by 1.4376 key resistance (2018 high), sustained trading below 1.3164 will argue that it’s indeed a bearish trend reversal and would target 61.8% retracement at 1.2493. Nevertheless, break of 1.3912 resistance will revive medium term bullishness and target 1.4248/4376 resistance zone again.

Daily Pivots: (S1) 1.3418; (P) 1.3467; (R1) 1.3519; More…

A temporary low is formed at 1.3410 in GBP/USD and intraday bias is turned neutral first. Further fall is expected as long as 1.3608 support turned resistance holds. Below 1.3410 will extend the fall form 1.4248 to 1.3163 medium term fibonacci level next. Nevertheless, firm break of 1.3608 will turn bias back to the upside for stronger rebound.

In the bigger picture, fall from 1.4248 is at least a correction to the up trend from 1.1409 (2020 low). Such correction could extend to 38.2% retracement of 1.1409 to 1.4248 at 1.3164 before completion. However, considering the rejection by 1.4376 key resistance (2018 high), sustained trading below 1.3164 will argue that it’s indeed a bearish trend reversal and would target 61.8% retracement at 1.2493. Nevertheless, break of 1.3912 resistance will revive medium term bullishness and target 1.4248/4376 resistance zone again.

Daily Pivots: (S1) 1.3373; (P) 1.3464; (R1) 1.3516; More…

With 1.3554 minor resistance intact, intraday bias in GBP/USD remains on the downside. Current decline from 1.4248 should target 1.3163 medium term fibonacci level next. On the upside, above 1.3554 minor resistance will turn intraday bias neutral and bring consolidation, before staging another fall.

In the bigger picture, fall from 1.4248 is at least a correction to the up trend from 1.1409 (2020 low). Such correction could extend to 38.2% retracement of 1.1409 to 1.4248 at 1.3164 before completion. However, considering the rejection by 1.4376 key resistance (2018 high), sustained trading below 1.3164 will argue that it’s indeed a bearish trend reversal and would target 61.8% retracement at 1.2493. Nevertheless, break of 1.3912 resistance will revive medium term bullishness and target 1.4248/4376 resistance zone again.

Daily Pivots: (S1) 1.3373; (P) 1.3464; (R1) 1.3516; More…

Intraday bias in GBP/USD remains on the downside at this point. Current fall from 1.4248 is in progress for 1.3163 medium term fibonacci level next. On the upside, above 1.3554 minor resistance will turn intraday bias neutral and bring consolidation, before staging another decline.

In the bigger picture, fall from 1.4248 is at least a correction to the up trend from 1.1409 (2020 low). Such correction could extend to 38.2% retracement of 1.1409 to 1.4248 at 1.3164 before completion. However, considering the rejection by 1.4376 key resistance (2018 high), sustained trading below 1.3164 will argue that it’s indeed a bearish trend reversal and would target 61.8% retracement at 1.2493. Nevertheless, break of 1.3912 resistance will revive medium term bullishness and target 1.4248/4376 resistance zone again.

Daily Pivots: (S1) 1.3467; (P) 1.3592; (R1) 1.3664; More…

GBP/USD drops to as low as 1.3454 so far and intraday bias remains on the downside. Sustained trading below 1.3482 resistance turned support will pave the way to 1.3163 medium term fibonacci level next. On the upside, above 1.3554 minor resistance will turn intraday bias neutral first and bring consolidation first, before staging another decline.

In the bigger picture, fall from 1.4248 is at least a correction to the up trend from 1.1409 (2020 low). Such correction could extend to 38.2% retracement of 1.1409 to 1.4248 at 1.3164 before completion. However, considering the rejection by 1.4376 key resistance (2018 high), sustained trading below 1.3164 will argue that it’s indeed a bearish trend reversal and would target 61.8% retracement at 1.2493. Nevertheless, break of 1.3912 resistance will revive medium term bullishness and target 1.4248/4376 resistance zone again.

Daily Pivots: (S1) 1.3467; (P) 1.3592; (R1) 1.3664; More…

Intraday bias in GBP/USD remains on the downside at this point. Current fall from 1.4248 is in progress for 1.3482 resistance turned support. Sustained break there will target 1.3163 fibonacci level. On the upside, though, above 1.3608 support turned resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.3748 resistance holds.

In the bigger picture, fall from 1.4248 is at least a correction to the up trend from 1.1409 (2020 low). Such correction could extend to 38.2% retracement of 1.1409 to 1.4248 at 1.3164 before completion. However, considering the rejection by 1.4376 key resistance (2018 high), sustained trading below 1.3164 will argue that it’s indeed a bearish trend reversal and would target 61.8% retracement at 1.2493. Nevertheless, break of 1.3912 resistance will revive medium term bullishness and target 1.4248/4376 resistance zone again.

Daily Pivots: (S1) 1.3664; (P) 1.3697; (R1) 1.3735; More…

GBP/USD’s break of 1.3570 support indicates resumption of fall from 1.4248. Intraday bias is back on the downside for 1.3482 resistance turned support next. Sustained break there will target 1.3163 fibonacci level. On the upside, though, above 1.3608 support turned resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.3748 resistance holds.

In the bigger picture, fall from 1.4248 is at least a correction to the up trend from 1.1409 (2020 low). Such correction could extend to 38.2% retracement of 1.1409 to 1.4248 at 1.3164 before completion. However, considering the rejection by 1.4376 key resistance (2018 high), sustained trading below 1.3164 will argue that it’s indeed a bearish trend reversal and would target 61.8% retracement at 1.2493. Nevertheless, break of 1.3912 resistance will revive medium term bullishness and target 1.4248/4376 resistance zone again.