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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 24 14 13:04 GMT
Intraday bias in GBP/USD remains neutral as consolidation from 1.6841 temporary top continues. Near term outlook remains bullish as long as 1.6654 support holds. Above 1.6841 will extend the larger rise from 1.4813 to 1.7043 key resistance level next. However, break of 1.6654 will be an early sign of trend reversal and will turn focus back to 1.6465 support instead.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 24 14 02:43 GMT
Intraday bias in GBP/USD remains neutral as consolidation from 1.6841 temporary top continues. Near term outlook remains bullish as long as 1.6654 support holds. Above 1.6841 will extend the larger rise from 1.4813 to 1.7043 key resistance level next. However, break of 1.6654 will be an early sign of trend reversal and will turn focus back to 1.6465 support instead.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 23 14 13:14 GMT
GBP/USD faced strong resistance from 1.6841 temporary top and retreated again. Intraday bias remains neutral first. Near term outlook remains bullish as long as 1.6654 support holds. Above 1.6841 will extend the larger rise from 1.4813 to 1.7043 key resistance level next. However, break of 1.6654 will be an early sign of trend reversal and will turn focus back to 1.6465 support instead.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 23 14 03:11 GMT
GBP/USD is staying in range below 1.6841 temporary top and intraday bias remains neutral. Near term outlook remains bullish as long as 1.6654 support holds. Above 1.6841 will extend the larger rise from 1.4813 to 1.7043 key resistance level next. However, break of 1.6654 will be an early sign of trend reversal and will turn focus back to 1.6465 support instead.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 22 14 12:43 GMT
GBP/USD recovers strongly today but stays below 1.6841 temporary top so far and intraday bias remains neutral. Note again that near term outlook stays bullish as long as 1.6654 support holds. Above 1.6841 will extend the larger rise from 1.4813 to 1.7043 key resistance level next. However, break of 1.6654 will be an early sign of trend reversal and will turn focus back to 1.6465 support instead.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 22 14 01:58 GMT
A temporary top is formed at 1.6841 and intraday bias is turned neutral first. GBP/USD is struggling to extend gain above 1.6822 resistance. But after all, near term outlook stays bullish as long as 1.6654 support holds. Above 1.6841 will extend the larger rise from 1.4813 to 1.7043 key resistance level next. However, break of 1.6654 will be an early sign of trend reversal and will turn focus back to 1.6465 support instead.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 17 14 09:04 GMT
GBP/USD's rally extends higher and the break of 1.6822 indicates that whole rise form 1.4813 has resumed. Intraday bias remains on the upside and further rally should now be seen to 1.7043 key resistance level next. On the downside, below 1.6786 minor support will turn bias neutral and bring consolidations. But downside should be contained above 1.6654 support and bring another rally.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 16 14 12:50 GMT
GBP/USD's strong rebound suggests that pull back from 1.6819 has completed at 1.6654 and intraday bias is cautiously on the upside for 1.6822 resistance. Break will confirm resumption of whole rise from 1.4813 and should target 1.7043 key resistance level next. Nonetheless, below 1.6712 minor support will mix up the outlook again and turn bias neutral.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 16 14 04:28 GMT
Outlook in GBP/USD is a bit mixed for the moment and intraday bias remains 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 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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