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Feb 07 17:14 GMT

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Action Insight: GBPUSD Technical Outlook

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GBP/USD Weekly Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 07 16 03:40 GMT
The rise from 1.4079 extended higher last week and was stronger than expected. But still, we're treating it as a correction. Initial bias is neutral this week first. Break of 1.4379 minor support will turn bias back to the downside for retesting 1.4079 low. In case of another rise, we'd expect strong resistance from 61.8% retracement from 1.5239 to 1.4079 at 1.4796 to limit upside and bring down trend resumption finally.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 05 16 14:03 GMT
Intraday bias in GBP/USD is turned neutral with today's fall. Rebound 1.4079 is still viewed as a correction. In case of another rise, we'd watch the reaction from 61.8% retracement from 1.5239 to 1.4079 at 1.4796. Meanwhile, below 1.4379 minor support will turn bias back to the downside for 1.4079 low instead and would likely extend the larger decline.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 05 16 09:14 GMT
The rebound from 1.4079 could extend to target 61.8% retracement from 1.5239 to 1.4079 at 1.4796. At this point, we're still viewing such rebound as a correction and will watch the reaction from there. On the downside, below 1.4379 minor support will turn bias back to the downside for 1.4079 low instead.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 04 16 13:23 GMT
The rebound from 1.4079 is still in progress and would target 61.8% retracement from 1.5239 to 1.4079 at 1.4796. At this point, we're still viewing such rebound as a correction and will watch the reaction from there. On the downside, below 1.4379 minor support will turn bias back to the downside for 1.4079 low instead.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 04 16 04:05 GMT
The rebound from 1.4079 is still in progress and would target 61.8% retracement from 1.5239 to 1.4079 at 1.4796. At this point, we're still viewing such rebound as a correction and will watch the reaction from there. On the downside, below 1.4379 minor support will turn bias back to the downside for 1.4079 low instead.
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GBP/USD Mid-Days Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 03 16 13:33 GMT
GBP/USD's rebound from 1.4079 extends to 1.4544 so far and was stronger than we expected. Intraday bias is now on the upside for further rebound to 61.8% retracement from 1.5239 to 1.4079 at 1.4796. At this point, we're still viewing such rebound as a correction and will watch the reaction from there. On the downside, below 1.4325 minor support will turn bias back to the downside for 1.4079 low instead.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 03 16 03:09 GMT
GBP/USD is staying in the consolidation pattern from 1.4079 short term bottom and intraday bias remains neutral. Further recovery might be seen but we'd expect upside to be limited by 38.2% retracement from 1.5239 to 1.4079 at 1.4522 and bring fall resumption. Break of 1.4079 will extend recent down trend to 1.3503 low.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 02 16 12:53 GMT
GBP/USD is staying in the consolidation pattern fro 1.4079 short term bottom and intraday bias remains neutral. Further recovery might be seen but we'd expect upside to be limited by 38.2% retracement from 1.5239 to 1.4079 at 1.4522 and bring fall resumption. Break of 1.4079 will extend recent down trend to 1.3503 low.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 02 16 03:17 GMT
Intraday bias in GBP/USD remains neutral for consolidations above 1.4079 short term bottom. In case of another rise, we'd expect upside to be limited by 38.2% retracement from 1.5239 to 1.4079 at 1.4522 and bring fall resumption. Break of 1.4079 will extend recent down trend to 1.3503 low.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Feb 01 16 13:52 GMT
Intraday bias in GBP/USD remains neutral for consolidations above 1.4079 short term bottom. In case of another rise, we'd expect upside to be limited by 38.2% retracement from 1.5239 to 1.4079 at 1.4522 and bring fall resumption. Break of 1.4079 will extend recent down trend to 1.3503 low.
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