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Action Insight: GBPUSD Technical Outlook

Action Insight is the most popular section of the site, read by traders around the world. Our team of analysts work around the clock, analyzing the markets from technical and fundamental perspectives in providing the reports in this section to you.



GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Aug 31 15 13:03 GMT
With 1.5508 minor resistance intact, further decline is expected in GBP/USD. Recent development suggests that corrective pattern from 1.5329 has completed with three waves up to 1.5817. Break of 1.5329 support will resume the fall from 1.5929 and target 100% projection of 1.5929 to 1.5329 from 1.5817 at 1.5217. Break will target 161.8% projection at 1.4846. On the upside, above 1.5508 minor resistance will turn bias neutral first. But risk will stay on the downside as long as 1.5817 resistance holds.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Aug 31 15 04:06 GMT
With 1.5508 minor resistance intact, further decline is expected in GBP/USD. Recent development suggests that corrective pattern from 1.5329 has completed with three waves up to 1.5817. Break of 1.5329 support will resume the fall from 1.5929 and target 100% projection of 1.5929 to 1.5329 from 1.5817 at 1.5217. Break will target 161.8% projection at 1.4846. On the upside, above 1.5508 minor resistance will turn bias neutral first. But risk will now stay on the downside as long as 1.5817 resistance holds.
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GBP/USD Weekly Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Aug 29 15 15:03 GMT
GBP/USD rose to 1.5817 last week but dropped sharply since then. The development suggests that the corrective pattern from 1.5329 has completed with three waves up to 1.5817. Initial bias remains on the downside this week for 1.5329 first. Break will resume the fall from 1.5929 and target 100% projection of 1.5929 to 1.5329 from 1.5817 at 1.5217. Break will target 161.8% projection at 1.4846. On the upside, above 1.5508 minor resistance will turn bias neutral first. But risk will now stay on the downside as long as 1.5817 resistance holds.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Aug 27 15 13:58 GMT
Fall from 1.5817 extends lower today and intraday bias remains on the downside. Break of 1.5329 support will confirm resumption of decline from 1.5929. And more importantly, that will indicate that whole rebound from 1.4565 has completed. In such case, deeper fall would be seen to 1.5169 support next. On the upside, above 1.5508 minor resistance will turn bias neutral first.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Aug 27 15 05:52 GMT
Intraday bias in GBP/USD remains on the downside for the moment. Whole rebound from 1.5329 might be completed at 1.5817 already. The corrective structure suggests that fall from 1.5929 might be resuming. Deeper fall should be seen to 1.5329/5423 support zone first. Meanwhile, break of 1.5817 will turn focus back to 1.5929 resistance instead.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Aug 26 15 13:13 GMT
GBP/USD's sharp fall and break of 1.5629 minor support argues that whole rebound from 1.5329 might be completed at 1.5817 already. The corrective structure suggests that fall from 1.5929 might be resuming. Intraday bias is turned back to the downside for 1.5329/5423 support zone first. Meanwhile, break of 1.5817 will turn focus back to 1.5929 resistance instead.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Aug 26 15 05:19 GMT
Further rise is still expected with 1.5629 minor support intact. Rebound from 1.5329 would target 1.5929 resistance and possibly above. But we'd continue to be cautious on strong resistance from 61.8% retracement of 1.7190 to 1.4565 at 1.6187 to limit upside to complete whole rise from 1.4565. On the downside, below 1.5629 minor support will turn bias back to the downside for 1.5329/5423 support zone instead.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Aug 25 15 13:20 GMT
Intraday bias in GBP/USD remains on the upside and rebound from 1.5329 is expected to target 1.5929 resistance and possibly above. But we'd continue to be cautious on strong resistance from 61.8% retracement of 1.7190 to 1.4565 at 1.6187 to limit upside to complete whole rise from 1.4565. On the downside, below 1.5629 minor support will turn bias back to the downside for 1.5329/5423 support zone instead.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Aug 25 15 04:16 GMT
Intraday bias in GBP/USD remains on the upside and rebound from 1.5329 is expected to target 1.5929 resistance and possibly above. But we'd continue to be cautious on strong resistance from 61.8% retracement of 1.7190 to 1.4565 at 1.6187 to limit upside to complete whole rise from 1.4565. On the downside, below 1.5629 minor support will turn bias back to the downside for 1.5329/5423 support zone instead.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Aug 24 15 13:54 GMT
GBP/USD's rise is picking up some momentum and intraday bias remains on the upside. Rebound from 1.5329 is expected to target 1.5929 resistance and possibly above. But we'd continue to be cautious on strong resistance from 61.8% retracement of 1.7190 to 1.4565 at 1.6187 to limit upside to complete whole rise from 1.4565. On the downside, below 1.5629 minor support will turn bias back to the downside for 1.5329/5423 support zone instead.
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