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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 | Jul 28 14 13:29 GMT
Focus remains on 1.6952 support first. Decisive break there will argue that 1.7190 was already the medium term top and will target 1.6692 key support level. However, the pair is staying inside medium term rising channel. We wont' jump into conclusion of trend reversal yet even though dollar does look strong elsewhere. Rebound from current level, followed by break of 1.7058 resistance will turn bias back to the upside for 1.7190 resistance and above.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Jul 28 14 08:00 GMT
Focus remains on 1.6952 support first. Decisive break there will argue that 1.7190 was already the medium term top and will target 1.6692 key support level. However, the pair is staying inside medium term rising channel. We wont' jump into conclusion of trend reversal yet even though dollar does look strong elsewhere. Rebound from current level, followed by break of 1.7058 resistance will turn bias back to the upside for 1.7190 resistance and above.
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GBP/USD Weekly Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Jul 26 14 09:39 GMT
The decline from 1.7190 extended lower last week but is staying above 1.6952 support so far. Also, the pair is staying inside medium term rising channel. We wont' jump into conclusion of trend reversal yet even though dollar does look strong elsewhere. Initial focus will be on 1.6952 support. Decisive break there will argue that 1.7190 was already the medium term top and will target 1.6692 key support level. Meanwhile, rebound from current level, followed by break of 1.7058 resistance will turn bias back to the upside for 1.7190 resistance and above.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Jul 25 14 13:08 GMT
At this point, we'd still expect support from 1.6952 to contain downside to finish the pull back from 1.7190 and bring rebound. Above 1.7058 minor resistance will turn bias back to the upside for retesting 1.7190. However, sustained break of 1.6952 will be the first sign on medium term reversal and will turn focus back to 1.6692 key support level.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Jul 25 14 07:29 GMT
Intraday bias in GBP/USD remains on the downside as the correction from 1.7190 extends. At this point, we'd expect support from 1.6952 to contain downside and bring rebound. Above 1.7058 minor resistance will turn bias back to the upside for retesting 1.7190. However, sustained break of 1.6952 will be the first sign on medium term reversal and will turn focus back to 1.6692 key support level.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Jul 24 14 13:05 GMT
GBP/USD's correction from 1.7190 extends lower today and reaches as low as 1.6990 so far. Intraday bias remains on the downside for 55 days EMA (now at 1.6974). At this point, there is no clear sign of trend reversal yet. Hence, we'd expect 1.6952 support to contain downside and bring rebound. On the upside, above 1.7099 minor resistance will turn bias back to the upside for retesting 1.7190 resistance. However, sustained break of 1.6952 will be the first sign on medium term reversal and will turn focus back to 1.6692 key support level.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Jul 24 14 04:22 GMT
Intraday bias in GBP/USD remains on the downside and the correction from 1.7190 should extend lower for 55 days EMA (now at 1.6974). At this point, there is no clear sign of trend reversal yet. Hence, we'd expect 1.6952 support to contain downside and bring rebound. On the upside, above 1.7099 minor resistance will turn bias back to the upside for retesting 1.7190 resistance.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Jul 23 14 13:12 GMT
GBP/USD's correction from 1.7190 extends lower today and reaches 1.7023 so far. Intraday bias remains on the downside for 55 days EMA (now at 1.6973) this point, there is no clear sign of trend reversal yet. Hence, we'd expect 1.6952 support to contain downside and bring rebound. On the upside, above 1.7099 minor resistance will turn bias back to the upside for retesting 1.7190 resistance.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Jul 23 14 05:17 GMT
Intraday bias in GBP/USD remains mildly on the downside for the moment. A short term top was formed at 1.7190 on bearish divergence condition in 4 hours MACD. Correction from there would extend lower to 55 days EMA (now at 1.6973). At this point, there is no clear sign of trend reversal yet. Hence, we'd expect 1.6952 support to contain downside and bring rebound.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Jul 22 14 13:31 GMT
Intraday bias in GBP/USD remains mildly on the downside for the moment. A short term top was formed at 1.7190 on bearish divergence condition in 4 hours MACD. Correction from there would extend lower to 55 days EMA (now at 1.6966). At this point, there is no clear sign of trend reversal yet. Hence, we'd expect 1.6952 support to contain downside and bring rebound.
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