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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 Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 27 15 03:31 GMT
We're holding on to the view that strong resistance should be see at 1.5540/51 (38.2% retracement of 1.6523 to 1.4950 at 1.5551) to bring near term reversal. Rise from 1.4950 is viewed as a corrective move and break of 1.5315 will indicates that it's completed. In such case, bias will be turned back to the downside for retesting 1.4950 first. However, sustained break of 1.5540/51 will argue that whole fall from 1.7190 is completed at 1.4950. And rise from there could target 1.5785 resistance next.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 26 15 16:06 GMT
We're holding on to the view that strong resistance should be see at 1.5540/51 (38.2% retracement of 1.6523 to 1.4950 at 1.5551) to bring near term reversal. Rise from 1.4950 is viewed as a corrective move and break of 1.5315 will indicates that it's completed. In such case, bias will be turned back to the downside for retesting 1.4950 first. However, sustained break of 1.5540/51 will argue that whole fall from 1.7190 is completed at 1.4950. And rise from there could target 1.5785 resistance next.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 26 15 07:36 GMT
GBP/USD is pressing key resistance at 1.5540, 38.2% retracement of 1.6523 to 1.4950 at 1.5551 for the moment. At this point, we'd still expect strong resistance from the current level to complete the corrective rise from 1.4950 and bring reversal. Below 1.5315 will turn bias back to the downside for retesting 1.4950 first. However, sustained break of 1.5540/51 will argue that whole fall from 1.7190 is completed at 1.4950. And rise from there could target 1.5785 resistance next.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 25 15 13:21 GMT
At this point, we're still maintaining the view that rebound from 1.4950 is merely a correction. And strong resistance is expected by 1.5540, 38.2% retracement of 1.6523 to 1.4950 at 1.5551 to complete such correction. Below 1.5315 will turn bias back to the downside for 1.4950 low first. However, sustained break of 1.5540/51 would argue that whole fall from 1.7190 might be finished and GBP/USD is a medium term rebound that would target 1.5785 resistance and above.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 25 15 07:03 GMT
The rebound from 1.4950 extends higher in GBP/USD.. But still, it's viewed as a corrective move. And, we'd expect upside to be limited by 1.5540, 38.2% retracement of 1.6523 to 1.4950 at 1.5551 and bring down trend resumption. On the downside, below 1.5315 minor support will bring retest of 1.4950 low first.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 24 15 15:24 GMT
Intraday bias remains neutral for the moment. The corrective rebound from 1.4905 might extend higher. But we'd expect upside to be limited by 1.5540, 38.2% retracement of 1.6523 to 1.4950 at 1.5551 and bring down trend resumption. On the downside, below 1.5315 minor support will bring retest of 1.4950 low first.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 24 15 05:09 GMT
GBP/USD is still staying above 1.5315 minor support and intraday bias remains neutral. The corrective rebound from 1.4905 might extend higher. But we'd expect upside to be limited by 1.5540, 38.2% retracement of 1.6523 to 1.4950 at 1.5551 and bring down trend resumption. On the downside, below 1.5315 minor support will bring retest of 1.4950 low first.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 23 15 13:53 GMT
GBP/USD is still staying above 1.5315 minor support and intraday bias remains neutral. The corrective rebound from 1.4905 might extend higher. But we'd expect upside to be limited by 1.5540, 38.2% retracement of 1.6523 to 1.4950 at 1.5551 and bring down trend resumption. On the downside, below 1.5315 minor support will bring retest of 1.4950 low first.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 23 15 07:49 GMT
No change in GBP/USD's outlook. While further rise cannot be ruled out, we'd expect upside to be limited by 1.5540, 38.2% retracement of 1.6523 to 1.4950 at 1.5551 and bring down trend resumption. On the downside, below 1.5315 minor support will bring retest of 1.4950 low first.
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GBP/USD Weekly Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 21 15 12:15 GMT
GBP/USD's rebound from 1.4950 extended higher last week and outlook is unchanged. While further rise cannot be ruled out, we'd expect upside to be limited by 1.5540, 38.2% retracement of 1.6523 to 1.4950 at 1.5551 and bring down trend resumption. On the downside, below 1.5315 minor support will bring retest of 1.4950 low first.
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