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Action Insight: GBPUSD Technical Outlook

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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 15 14 12:48 GMT
GBP/USD spiked lower to 1.6654 today but quickly recovered. The breach of 1.6683 minor support dampened the bullish outlook but there is no follow through selling yet. Intraday bias stays neutral first. On the downside, break of 1.6654 support should now indicate that consolidation pattern from 1.6822 is still in progress and has started another leg. In such case, bias will be turned back to the downside for 1.6550 and then 1.6465. Meanwhile, break of 1.6819 will indicate rise from 1.4813 has finally resumed for 1.7043 key resistance level.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 15 14 04:35 GMT
The consolidation from 1.6819 temporary top is still in progress and intraday bias remains neutral for the moment. We'd expect downside of the retreat to be contained by 1.6683 support and bring another rise. We'd expect whole up trend from 1.4813 to resume sooner or later and break of 1.6822 will target 1.7043 key resistance level next. Though, below 1.6683 will dampen the bullish case and turn bias back to the downside instead.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 14 14 13:04 GMT
Intraday bias in GBP/USD remains neutral for some consolidations. Downside is expected to be contained by 1.6683 support and bring another rise. We'd expect whole up trend from 1.4813 to resume sooner or later and break of 1.6822 will target 1.7043 key resistance level next. Though, below 1.6683 will dampen the bullish case and turn bias back to the downside instead.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 14 14 08:24 GMT
Intraday bias in GBP/USD remains neutral for some consolidations. Downside is expected to be contained by 1.6683 support and bring another rise. We'd expect whole up trend from 1.4813 to resume sooner or later and break of 1.6822 will target 1.7043 key resistance level next. Though, below 1.6683 will dampen the bullish case and turn bias back to the downside instead.
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GBP/USD Weekly Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 12 14 03:45 GMT
GBP/USD's rally was limited at 1.6819 last week, ahead of 1.6882 resistance, and formed a temporary top. Initial bias is neutral this week for consolidations. But downside should be contained by 1.6683 support and bring another rise. We'd expect whole up trend from 1.4813 to resume sooner or later and break of 1.6822 will target 1.7043 key resistance level next. Though, below 1.6683 will dampen the bullish case and turn bias back to the downside instead.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 11 14 12:57 GMT
GBP/USD's retreat from 1.6819 temporary top extends lower today but is holding above 1.6683 resistance turned support so far. Intraday bias remains neutral first. Outlook stays bullish as we expect the rally from 1.4813 to resume sooner or later. Break of 1.6822 will target 1.7043 key resistance level next. Though, below 1.6683 will dampen the bullish case and turn bias back to the downside instead.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 11 14 03:37 GMT
Intraday bias in GBP/USD remains neutral for some more consolidations below 1.6819 temporary top. As long as 1.6683 resistance turned support holds, outlook stays bullish and we'd expect whole rally from 1.4813 to resume sooner or later. Break of 1.6822 will target 1.7043 key resistance level next. Though, below 1.6683 will dampen the bullish case and turn bias back to the downside instead.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 10 14 13:13 GMT
GBP/USD formed temporary top at 1.6819, just ahead of 1.6822 resistance and intraday bias is turned neutral first. As long as 1.6683 resistance turned support holds, outlook stays bullish and we'd expect whole rally from 1.4813 to resume sooner or later. Break of 1.6822 will target 1.7043 key resistance level next.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 10 14 03:41 GMT
GBP/USD's rally extends to as high as 1.6819 so far and intraday bias remains on the upside. The up trend from 1.4813 could be resuming and break of 1.6822 will confirm this bullish case and target 1.7043 key resistance level next. On the downside, below 1.6729 minor support will turn bias neutral first. But outlook will stay bullish as long as 1.6683 resistance turned support holds.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 09 14 12:29 GMT
Intraday bias in GBP/USD remains on the upside and current rise from 1.6465 is expected to continue to 1.6785/6822 resistance zone first. Correction form 1.6822 should have completed at 1.6465 after hitting rising channel support. Break of 1.6822 will extend the whole up trend from 1.4813 to 7043 key resistance next. On the downside, below 1.6695 minor support will turn bias neutral first. But outlook will stay bullish as long as 1.6550 support holds.
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