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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 Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 05 12 13:02 GMT
GBP/USD's fall from 1.6060 is still in progress with focus on 1.5769 minor support. Break there will be an early sign of near term reversal and will flip bias to the downside for 1.5602 support for confirmation. However, before that, another rally could still be seen and above 1.6060 will target 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168).
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 05 12 08:07 GMT
Intraday bias in GBP/USD remains neutral for the moment with focus on 1.5769 minor support. Break there will be an early sign of near term reversal and will flip bias to the downside for 1.5602 support for confirmation. However, before that, another rally could still be seen and above 1.6060 will target 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168).
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 04 12 14:35 GMT
Intraday bias in GBP/USD remains neutral for the moment with focus on 1.5769 minor support. Break there will be an early sign of near term reversal and will flip bias to the downside for 1.5602 support for confirmation. However, before that, another rally could still be seen and above 1.6060 will target 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168).
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 04 12 08:05 GMT
From a near term angle, another rise could still be seen as long as 1.5769 minor support holds. Break of 1.6060 will target a test on 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168). However, However, break of 1.5769 will be an early sign of near term reversal and will flip bias to the downside for 1.5602 support for confirmation.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 03 12 14:37 GMT
Break of 1.5965 minor support suggests that a temporary top is in place at 1.6060 and turns intraday bias neutral. Some consolidations could be seen first but another rise remains in favor as long as 1.5769 support holds. Above 1.6060 will extend recent rebound from 1.5234 towards 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168). However, break of 1.5769 will be an early sign of near term reversal and will flip bias to the downside for 1.5602 support for confirmation.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 03 12 07:58 GMT
Intraday bias in GBP/USD remains on the upside with 1.5965 minor support intact and further rally is still expected for 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168). Decisive break there will have larger bullish implication and would pave the way to 1.6746 resistance later. On the downside, below 1.5965 minor support will turn bias neutral and bring retreat. But break of 1.5602 support is needed to indicate near term reversal. Otherwise, outlook will remain cautiously bullish.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 02 12 14:27 GMT
Intraday bias in GBP/USD remaisn on the upside with 1.5965 minor support intact and further rally is still expected for 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168). Decisive break there will have larger bullish implication and would pave the way to 1.6746 resistance later. On the downside, below 1.5965 minor support will turn bias neutral and bring retreat. But break of 1.5602 support is needed to indicate near term reversal. Otherwise, outlook will remain cautiously bullish.
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GBP/USD Daily Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Apr 02 12 08:32 GMT
GBP/USD edges higher to 1.6056 so far today and intraday bias remains on the upside for 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168). Decisive break there will have larger bullish implication and would pave the way to 1.6746 resistance later. On the downside, below 1.5965 minor support will turn bias neutral and bring retreat. But break of 1.5602 support is needed to indicate near term reversal. Otherwise, outlook will remain cautiously bullish.
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GBP/USD Weekly Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Mar 31 12 09:20 GMT
GBP/USD rose to as high as 1.6036 last week and the break of 1.5991 resistance confirmed resumption of whole rebound from 1.5234. Initial bias remains on the upside this week for 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168). Decisive break there will have larger bullish implication and would pave the way to 1.6746 resistance later. On the downside, break of 1.5841 support is needed to signal short term topping. Otherwise, well stay bullish even in case of retreat.
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GBP/USD Mid-Day Outlook Print E-mail
GBPUSD Outlook | Written by ActionForex.com | Mar 30 12 13:04 GMT
GBP/USD's fall is still in progress and intraday bias remains on the upside for 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.5234 at 1.6168). Decisive break there will have larger bullish implication and would pave the way to 1.6746 resistance later. On the downside, break of 1.5841 support is needed to signal short term topping. Otherwise, well stay bullish even in case of retreat.
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