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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 | Jun 25 16 15:26 GMT
GBP/USD dropped sharply last week on news of Brexit and took out 1.3503 low firmly. Initial bias stays on the downside this week. Current fall should target 100% projection of 1.5929 to 1.3835 from 1.5016 at 1.2922. Above 1.3983 minor resistance will turn bias neutral and bring consolidations first. But recovery should be limited well below 1.5016 resistance and bring fall resumption.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Jun 24 16 12:50 GMT
Much volatility is seen in GBP/USD today after the news of Brexit. The pair hits as low as 1.3227 before recovering. Intraday bias stay son the downside for next near term target of 61.8% projection of 1.5929 to 1.3835 from 1.5016 at 1.2922. In any case, break of 1.4011 support turned resistance is needed to signal short term bottoming. Otherwise, outlook will stay bearish in case of recovery.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Jun 24 16 05:06 GMT
GBP/USD drops sharply on the result of the EU referendum in UK. 2009 low of 1.3503 was taken out as the pair dives to as low as 1.3227 so far. Intraday bias stays on the downside for next near term target of 61.8% projection of 1.5929 to 1.3835 from 1.5016 at 1.3722. In any case, break of 1.4011 support turned resistance is needed to signal short term bottoming. Otherwise, outlook will stay bearish in case of recovery.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Jun 23 16 13:30 GMT
GBP/USD rises to as high as 1.4946 so far and intraday bias remains on the upside for 1.5117 fibonacci level. Nonetheless, the structure of the rise from 1.3835 suggests that it's a corrective move. Hence, we'd expect strong resistance from 1.5117 fibonacci level to limit upside and bring reversal. Meanwhile, below 1.4730 minor support will turn bias neutral first.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Jun 23 16 04:08 GMT
GBP/USD's rise continues today and hits as high as 1.4840 so far. Intraday bias stays on the upside and the whole rebound from 1.3835 might extend to 1.5117 fibonacci level. Nonetheless, the structure of it suggests that it's a corrective move. Hence, we'd expect strong resistance from 1.5117 fibonacci level to limit upside and bring reversal. Meanwhile, below 1.4615 minor support will turn bias neutral first.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Jun 22 16 13:15 GMT
With 1.4542 minor support intact, further rise would be seen in GBP/USD as rise from 1.3835 extends. Such rise is still viewed as a corrective move. Thus, we're expect strong resistance from 1.5117 fibonacci level to limit upside and bring reversal. Meanwhile, below 1.4431 minor support will turn bias neutral first.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Jun 22 16 05:38 GMT
Prior breach of 1.4769 resistance indicates that choppy rise from 1.3835 is resuming. Intraday bias stays on the upside for medium term fibonacci level at 1.5117. Such rise is still viewed as a corrective move. Thus, we're expect strong resistance from 1.5117 to limit upside and bring reversal. Meanwhile, below 1.4431 minor support will turn bias neutral first.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Jun 21 16 13:23 GMT
The breach of 1.4769 resistance indicates that choppy rise from 1.3835 is resuming. Intraday bias stays on the upside for medium term fibonacci level at 1.5117. Such rise is still viewed as a corrective move. Thus, we're expect strong resistance from 1.5117 to limit upside and bring reversal. Meanwhile, below 1.4431 minor support will turn bias neutral first.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Jun 21 16 03:59 GMT
Intraday bias in GBP/USD remains on the upside for 1.4739/69 resistance zone. Break of 1.4769 is possible but overall, price actions from 1.3835 low are corrective in nature. Thus, we're expect strong resistance from 1.5117 to limit upside and bring reversal. Meanwhile, below 1.4431 minor support will turn bias back to the downside for 1.4011 again.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Jun 20 16 13:52 GMT
Intraday bias in GBP/USD remains on the upside for 1.4739/69 resistance zone. Break of 1.4769 is possibly but overall, price actions from 1.3835 low are corrective in nature. Thus, we're expect strong resistance from 1.5117 to limit upside and bring reversal. Meanwhile, below 1.4431 minor support will turn bias back to the downside for 1.4011 again.
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