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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 | Sep 19 14 12:53 GMT
GBP/USD reached as high as 1.6523 earlier today but retreated sharply since then. At this point, outlook in GBP/USD remains unchanged. Main focus is on 1.6643 cluster resistance zone, 50% retracement of 1.7190 to 1.6051 at 1.6621. As long as this resistance zone holds, we'd still expect fall from 1.7190 to resume later. Below 1.6243 minor support will turn bias back to the downside for retesting 1.6051 support first. However, sustained break of 1.6621/43 will indicate that fall from 1.7190 is finished and will turn near term outlook bullish for retesting this resistance.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Sep 19 14 07:44 GMT
GBP/USD surged to as high as 1.6523 so far today and the rebound from 1.6051 would possibly extend higher. Focus is on 1.6643 cluster resistance zone, 50% retracement of 1.7190 to 1.6051 at 1.6621. As long as this resistance zone holds, we'd still expect fall from 1.7190 to resume later. Below 1.6243 minor support will turn bias back to the downside for retesting 1.6051 support first. However, sustained break of 1.6621/43 will indicate that fall from 1.7190 is finished and will turn near term outlook bullish for retesting this resistance
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Sep 18 14 13:01 GMT
The recovery from 1.6051 is still in progress but outlook in GBP/USD is unchanged. While further rise cannot be ruled out, we'd expect upside to be limited by 1.6534 support turned resistance and bring fall resumption. Below 1.6161 minor support will turn bias back to the downside for 1.6051 first. Break will extend the decline from 1.7190 through 50% retracement of 1.4813 to 1.7190 at 1.6002 to 61.8% retracement at 1.5721.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Sep 18 14 04:49 GMT
Intraday bias in GBP/USD remains neutral for the moment as the consolidation from 1.6051 continues. While further rise cannot be ruled out, we'd expect upside to be limited by 1.6534 support turned resistance and bring fall resumption. Below 1.6161 minor support will turn bias back to the downside for 1.6051 first. Break will extend the decline from 1.7190 through 50% retracement of 1.4813 to 1.7190 at 1.6002 to 61.8% retracement at 1.5721.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Sep 17 14 12:53 GMT
GBP/USD rises to as high as 1.6350 so far today as the recovery from 1.6051 continues. Outlook remains unchanged though as such recovery is viewed as a correction only. While further rise cannot be ruled out, we'd expect upside to be limited by 1.6534 support turned resistance and bring fall resumption. Below 1.6161 minor support will turn bias back to the downside for 1.6051 first. Break will extend the decline from 1.7190 through 50% retracement of 1.4813 to 1.7190 at 1.6002 to 61.8% retracement at 1.5721.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Sep 17 14 03:36 GMT
The consolidation from 1.6051 temporary low is still in progress and intraday bias in GBP/USD remains neutral. In case of another recovery, upside should be limited by 1.6534 support turned resistance and bring fall resumption. Below 1.6051 should extend the decline from 1.7190 through 50% retracement of 1.4813 to 1.7190 at 1.6002 to 61.8% retracement at 1.5721.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Sep 16 14 13:18 GMT
The consolidation from 1.6051 temporary low is still in progress and intraday bias in GBP/USD remains neutral. In case of another recovery, upside should be limited by 1.6534 support turned resistance and bring fall resumption. Below 1.6051 should extend the decline from 1.7190 through 50% retracement of 1.4813 to 1.7190 at 1.6002 to 61.8% retracement at 1.5721.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Sep 16 14 04:07 GMT
Intraday bias in GBP/USD remains neutral for consolidation above 1.6051 temporary low. Upside of recovery should be limited by 1.6534 support turned resistance and bring fall resumption. Below 1.6051 should extend the decline from 1.7190 through 50% retracement of 1.4813 to 1.7190 at 1.6002 to 61.8% retracement at 1.5721.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Sep 15 14 12:55 GMT
Intraday bias in GBP/USD remains neutral for consolidation above 1.6051 temporary low. Upside of recovery should be limited by 1.6534 support turned resistance and bring fall resumption. Below 1.6051 should extend the decline from 1.7190 through 50% retracement of 1.4813 to 1.7190 at 1.6002 to 61.8% retracement at 1.5721.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Sep 15 14 07:25 GMT
Intraday bias in GBP/USD remains neutral for consolidation above 1.6051 temporary low. Upside of recovery should be limited by 1.6534 support turned resistance and bring fall resumption. Below 1.6051 should extend the decline from 1.7190 through 50% retracement of 1.4813 to 1.7190 at 1.6002 to 61.8% retracement at 1.5721.
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