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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 Weekly Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 30 16 13:48 GMT
GBP/USD's rise continued last week as is pressing 1.4667 key resistance level. At this point, we'd continue to extend strong resistance from 1.4667 to limit upside and bring reversal. Below 1.4472 support will argue that whole rebound from 1.3835 is completed and will turn bias to the downside for 1.4004 first. However, firm break of 1.4677 will invalidate our view and target 161.8% projection of 1.3835 to 1.4514 from 1.4004 at 1.5103.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 29 16 13:16 GMT
At this point, we'd stay cautious on strong resistance from 1.4467 to limit upside and bring down trend resumption eventually. Below 1.4472 minor support will turn bias back to the downside. However, firm break of 1.4677 will invalidate our view and target 161.8% projection of 1.3835 to 1.4514 from 1.4004 at 1.5103.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 29 16 03:56 GMT
GBP/USD's rally resumed but we'd stay cautious on strong resistance from 1.4467 to limit upside and bring down trend resumption eventually. Below 1.44732 minor support will turn bias back to the downside. However, firm break of 1.4677 will invalidate our view and target 161.8% projection of 1.3835 to 1.4514 from 1.4004 at 1.5103.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 28 16 13:38 GMT
Intraday bias in GBP/USD remains neutral for the moment. At this point, we're still treating rebound from 1.3835 as a corrective move. Thus, we'd expect strong resistance from 1.4467 to limit upside and bring down trend resumption eventually. Below 1.4418 minor support will turn bias back to the downside. However, firm break of 1.4677 will invalidate our view and target 161.8% projection of 1.3835 to 1.4514 from 1.4004 at 1.5103.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 28 16 06:41 GMT
Intraday bias in GBP/USD remains neutral for the moment. At this point, we're still treating rebound from 1.3835 as a corrective move. Thus, we'd expect strong resistance from 1.4467 to limit upside and bring down trend resumption eventually. Below 1.4418 minor support will turn bias back to the downside. However, firm break of 1.4677 will invalidate our view and target 161.8% projection of 1.3835 to 1.4514 from 1.4004 at 1.5103.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 27 16 13:51 GMT
With 4 hours MACD crossed below signal line, intraday bias in GBP/USD is turned neutral first. At this point, we're still treating rebound from 1.3835 as a corrective move. Thus, we'd expect strong resistance from 1.4467 to limit upside and bring down trend resumption eventually. Below 1.4484 minor support will turn bias back to the downside. However, firm break of 1.4677 will invalidate our view and target 161.8% projection of 1.3835 to 1.4514 from 1.4004 at 1.5103.
Read more...
 
GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 27 16 08:12 GMT
Intraday bias in GBP/USD remains on the upside for the moment. At this point, we're still treating rebound from 1.3835 as a corrective move. Thus, we'd expect strong resistance from 1.4467 to limit upside and bring down trend resumption eventually. Below 1.4484 minor support will turn bias back to the downside. However, firm break of 1.4677 will invalidate our view and target 161.8% projection of 1.3835 to 1.4514 from 1.4004 at 1.5103.
Read more...
 
GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 26 16 13:19 GMT
GBP/USD's rise continues today and reaches as high as 1.4622 so far. At this point, we're still treating rebound from 1.3835 as a corrective move. Thus, we'd expect strong resistance from 1.4467 to limit upside and bring down trend resumption eventually. Below 1.4484 minor support will turn bias back to the downside. However, firm break of 1.4677 will invalidate our view and target 161.8% projection of 1.3835 to 1.4514 from 1.4004 at 1.5103.
Read more...
 
GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 26 16 03:02 GMT
Intraday bias in GBP/USD remains on the upside for the moment. Prior breach of 1.4514 indicates that rebound from 1.3835 is resuming. Further rally would be seen to 1.4667 key resistance next. At this point, we're still treating such rebound as a corrective move. Thus, we'd expect strong resistance from 1.4467 to limit upside and bring down trend resumption eventually. Meanwhile, below 1.4298 minor support will turn bias to the downside for 1.4089 support first.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 25 16 12:41 GMT
GBP/USD rises to as high as 1.4519 so far and breached 1.4514 resistance. Rebound from 1.3835 is resuming and should target 1.4667 key resistance next. At this point, we're still treating such rebound as a corrective move. Thus, we'd expect strong resistance from 1.4467 to limit upside and bring down trend resumption eventually. Meanwhile, below 1.4298 minor support will turn bias to the downside for 1.4089 support first.
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