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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 | Feb 09 12 13:52 GMT
Intraday bias in GBP/USD remains neutral for the moment and more consolidation could be seen below 1.5928 temporary top. But near term outlook remains cautiously bullish as long as 1.5729 support holds. Above 1.5928 will target 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168). Break will confirm that whole decline from 1.6746 has finished at 1.5234 already.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 09 12 07:34 GMT
GBP/USD formed a temporary top at 1.5928 and intraday bias is turned neutral for the moment. Nonetheless, near term outlook remains cautiously bullish as long as 1.5729 support holds. Above 1.5928 will target 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168). Break will confirm that whole decline from 1.6746 has finished at 1.5234 already.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 08 12 12:59 GMT
Intraday bias in GBP/USD remains on the upside and current rise from 1.5234 should be targeting to 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168). Break will confirm that whole decline from 1.6746 has finished at 1.5234 already. On the downside, break of 1.5729 support is needed to indicate short term topping. Otherwise, near term outlook will remain cautiously bullish even in case of retreat.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 08 12 08:09 GMT
GBP/USD's break of 1.5882 confirmed resumption of whole rise from 1.5234. Intraday bias is back on the upside and further rally should be seen to 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168). Break will confirm that whole decline from 1.6746 has finished at 1.5234 already. On the downside, break of 1.5729 support is needed to indicate short term topping. Otherwise, near term outlook will remain bullish even in case of retreat.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 07 12 13:56 GMT
GBP/USD is still bounded in tight range below 1.5882 temporary top and more consolidation might be seen. But again, near term outlook remains cautiously bullish with 1.5641 cluster support intact (38.2% retracement of 1.5234 to 1.5882). Above 1.5882 will target a test on 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168). Break will confirm that whole decline from 1.6746 has finished at 1.5234 already. On the downside, below 1.5641 support flip bias back to the downside for 1.5234 support instead.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 07 12 07:42 GMT
GBP/USD is still bounded in tight range below 1.5882 temporary top and more consolidation might be seen. But again, near term outlook remains cautiously bullish with 1.5641 cluster support intact (38.2% retracement of 1.5234 to 1.5882). Above 1.5882 will target a test on 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168). Break will confirm that whole decline from 1.6746 has finished at 1.5234 already. On the downside, below 1.5641 support flip bias back to the downside for 1.5234 support instead.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 06 12 13:42 GMT
GBP/USD dips further to 1.5729 so far today as consolidation from 1.5882 temporary top extends. More corrective trading would be seen. But again. near term outlook remains cautiously bullish with 1.5641 cluster support intact (38.2% retracement of 1.5234 to 1.5882). Above 1.5882 will target a test on 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168). Break will confirm that whole decline from 1.6746 has finished at 1.5234 already. On the downside, below 1.5641 support flip bias back to the downside for 1.5234 support instead.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 06 12 07:21 GMT
Intraday bias in GBP/USD remains neutral for the moment as consolidation from 1.5882 temporary top continues. But after all, note again that near term outlook stays cautiously bullish as long as 1.5641 cluster support holds (38.2% retracement of 1.5234 to 1.5882). Above 1.5882 will target a test on 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168). Break will confirm that whole decline from 1.6746 has finished at 1.5234 already. On the downside, below 1.5641 support flip bias back to the downside for 1.5234 support instead.
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GBP/USD Weekly Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 04 12 06:24 GMT
GBP/USD rose further to as high as 1.5882 last week before making a temporary top there and consolidates. Initial bias is neutral this week for some sideway trading. But near term outlook will stay cautiously bullish as long as 1.5641 cluster support holds (38.2% retracement of 1.5234 to 1.5882). Above 1.5882 will target a test on 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168). Break will confirm that whole decline from 1.6746 has finished at 1.5234 already. On the downside, below 1.5641 support flip bias back to the downside for 1.5234 support instead.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 03 12 14:19 GMT
GBP/USD dips sharply after US NFP release as consolidation from 1.5882 continues. Deeper fall might be seen towards 4 hours 55 EMA (now at 1.5706). However, note against that rise from 1.5234 is expected to continue as long as 1.5461 cluster support holds. Above 1.5882 will target 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168). Break will confirm that whole decline from 1.6746 has finished at 1.5234 already. On the downside, below 1.5641 support, however, will depend this bullish view and at least bring deeper pull back.
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