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GBPUSD Outlook |
Written by ActionForex.com |
Jul 03 09 07:45 GMT |
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Intraday bias in GBP/USD remains on the downside with focus on 1.6232 support. As noted before, break there will be an early signal that GBP/USD has topped out already, with bearish divergence conditions in 4 hours MACD and RSI. Deeper decline should then be seen to 1.5801 support for confirmation. On the upside, above 1.6543 will turn intraday outlook neutral again and argue that another high above 1.6742 might be seen before GBP/USD tops. |
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GBPUSD Outlook |
Written by ActionForex.com |
Jul 02 09 14:27 GMT |
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Intraday bias in GBP/USD remains on the downside with focus on 1.6232 support. As noted before, break there will be an early signal that GBP/USD has topped out already, with bearish divergence conditions in 4 hours MACD and RSI. Deeper decline should then be seen to 1.5801 support for confirmation. On the upside, above 1.6543 will turn intraday outlook neutral again and argue that another high above 1.6742 might be seen before GBP/USD tops. |
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GBPUSD Outlook |
Written by ActionForex.com |
Jul 02 09 07:41 GMT |
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GBP/USD's fall from 1.6742 resumes today and at this point, intraday bias remains mildly on the downside and further fall could be seen to 1.6232 support. But after all, as long as this support holds, there is no clear indication of topping in GBP/USD yet. Strong rebound from there, followed by break of 1.6543 minor resistance will flip intraday bias back to the upside for a retest of 1.6742 high first. Break will bring up trend resumption to 61.8% projection of 1.4395 to 1.6661 from 1.5801 at 1.7201. But again, upside momentum is expected to diminish as GBP/USD approaches this level and finally bring reversal. On the downside, break of 1.6232 will in turn be an early signal that GBP/USD has topped out already, with bearish divergence conditions in 4 hours MACD and RSI and will turn focus to 1.5801 support for confirmation. |
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GBPUSD Outlook |
Written by ActionForex.com |
Jul 01 09 14:48 GMT |
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As discussed before, while the fall from 1.6472 was deep, it's still kept well above 1.6232 support. Another rise is still mildly in favor. Break of 1.6742 will target 61.8% projection of 1.4395 to 1.6661 from 1.5801 at 1.7201. But again, upside momentum is expected to diminish as GBP/USD approaches this level and finally bring reversal. On the downside, break of 1.6232 will in turn be an early signal that GBP.USD has topped out already and will turn focus to 1.5801 support for confirmation. |
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GBPUSD Outlook |
Written by ActionForex.com |
Jul 01 09 08:50 GMT |
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Intraday outlook in GBP/USD was turned neutral after the sharp fall from 1.6742. Focus now turns to 1.6232 support and break there is needed to indicate that GBP/USD has topped out. Otherwise, another rise is still mildly in favor. Break of 1.6742 will target 61.8% projection of 1.4395 to 1.6661 from 1.5801 at 1.7201. But again, upside momentum is expected to diminish as GBP/USD approaches this level and finally bring reversal. On the downside, break of 1.6232 will in turn be an early signal that GBP.USD has topped out already and will turn focus to 1.5801 support for confirmation. |
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GBPUSD Outlook |
Written by ActionForex.com |
Jun 30 09 14:08 GMT |
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GBP/USD retreats sharply after rising to 1.6742 earlier today and break of 1.6540 minor support indicates that an intraday top is in place. Intraday outlook is turned neutral for the moment and some more pull back cannot be ruled out. But after note, note that prior break of 1.6661 high indicates that medium term rally has resumed and hence, break of 1.6232 support is needed to indicate that GBP/USD has topped out. Otherwise, short term outlook remains bullish. Above 1.6742 will target 61.8% projection of 1.4395 to 1.6661 from 1.5801 at 1.7201. But upside momentum is expected to diminish as GBP/USD approaches this level and finally bring reversal. |
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GBPUSD Outlook |
Written by ActionForex.com |
Jun 30 09 08:47 GMT |
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GBP/USD finally breaks out of recent range today and surges to as high as 1.6742 so far. The break of 1.6661 high confirms that whole medium term rally has resumed. At this point, intraday bias remains on the upside as long as 1.6540 minor support holds. Further rise would be seen to next target of 61.8% projection of 1.4395 to 1.6661 from 1.5801 at 1.7201. But upside momentum is expected to diminish as GBP/USD approaches this level and finally bring reversal. On the downside, below 1.6540 minor support will turn intraday outlook neutral first. But break of 1.6232 support is needed to indicate that GBP/USD has topped out. Otherwise, short term outlook remains bullish. |
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GBPUSD Outlook |
Written by ActionForex.com |
Jun 29 09 14:08 GMT |
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GBP/USD strengthens mildly today but after all it's limited below 1.6617 resistance. We continue to stay neutral in GBP/USD with it bounded in established range of 1.6185/6617. The consolidative nature of price actions from 1.6617 argues that more upside would be seen. Break of 1.6617 will suggest rise from 1.5801 is resuming for 61.8% projection of 1.4395 to 1.6661 from 1.5801 at 1.7201. But in such case, upside momentum is expected to diminish as GBP/USD approaches this level and finally bring reversal. On the downside, below 1.6185 will flip intraday bias back to the downside for 1.5801 support instead and will revive the possibility that GBP/USD has already topped out. |
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GBPUSD Outlook |
Written by ActionForex.com |
Jun 29 09 08:52 GMT |
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We continue to stay neutral in GBP/USD with it bounded in established range of 1.6185/6617. The consolidative nature of price actions from 1.6617 argues that more upside would be seen. Break of 1.6617 will suggest rise from 1.5801 is resuming for 61.8% projection of 1.4395 to 1.6661 from 1.5801 at 1.7201. But in such case, upside momentum is expected to diminish as GBP/USD approaches this level and finally bring reversal. On the downside, below 1.6185 will flip intraday bias back to the downside for 1.5801 support instead and will revive the possibility that GBP/USD has already topped out. |
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GBPUSD Outlook |
Written by ActionForex.com |
Jun 27 09 14:41 GMT |
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GBP/USD continued to stay in recent established range of 1.6185/6617 last week and hence, outlook remains unchanged. The consolidative nature of price actions from 1.6617 argues that more upside would be seen. Break of 1.6617 will suggest rise from 1.5801 is resuming for 61.8% projection of 1.4395 to 1.6661 from 1.5801 at 1.7201. But in such case, upside momentum is expected to diminish as GBP/USD approaches this level and finally bring reversal. On the downside, below 1.6185 will flip intraday bias back to the downside for 1.5801 support instead and will revive the possibility that GBP/USD has already topped out. |
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GBPUSD Outlook |
Written by ActionForex.com |
Jun 26 09 13:39 GMT |
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Outlook in GBP/USD remains neutral as choppy sideway trading continues in range of 1.6185/6617. Though, the corrective structure of price actions from 1.6617 continues to argue that it's merely consolidations only. Break of 1.6617/6661 resistance zone will indicate that whole rise from 1.3654 has resumed, targeting 61.8% projection of 1.4395 to 1.6661 from 1.5801 at 1.7201. But after all, we'd expect upside momentum to diminish as GBP/USD approaches this level and bring reversal finally. On the downside, below 1.6185 will turn focus back to 1.5801 support first. |
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GBPUSD Outlook |
Written by ActionForex.com |
Jun 26 09 08:34 GMT |
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Outlook in GBP/USD remains neutral as choppy sideway trading continues in range of 1.6185/6617. Though, the corrective structure of price actions from 1.6617 continues to argue that it's merely consolidations only. Break of 1.6617/6661 resistance zone will indicate that whole rise from 1.3654 has resumed, targeting 61.8% projection of 1.4395 to 1.6661 from 1.5801 at 1.7201. But after all, we'd expect upside momentum to diminish as GBP/USD approaches this level and bring reversal finally. On the downside, below 1.6185 will turn focus back to 1.5801 support first. |
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GBPUSD Outlook |
Written by ActionForex.com |
Jun 25 09 14:26 GMT |
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We'll continue to stay neutral as GBP/USD is staying in range of 1.6185/6617. Though, the corrective structure of price actions from 1.6617 continues to argue that it's merely consolidations only. Break of 1.6617/6661 resistance zone will indicate that whole rise from 1.3654 has resumed, targeting 61.8% projection of 1.4395 to 1.6661 from 1.5801 at 1.7201. But after all, we'd expect upside momentum to diminish as GBP/USD approaches this level and bring reversal finally. On the downside, below 1.6185 will turn focus back to 1.5801 support first. |
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GBPUSD Outlook |
Written by ActionForex.com |
Jun 25 09 08:45 GMT |
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GBP/USD failed 1.6617 again and retreated sharply today. We'll continue to stay neutral as GBP/USD is staying in range of 1.6185/6617. Though, the corrective structure of price actions from 1.6617 continues to argue that it's merely consolidations only. Break of 1.6617/6661 resistance zone will indicate that whole rise from 1.3654 has resumed, targeting 61.8% projection of 1.4395 to 1.6661 from 1.5801 at 1.7201. But after all, we'd expect upside momentum to diminish as GBP/USD approaches this level and bring reversal finally. On the downside, below 1.6185 will turn focus back to 1.5801 support first. |
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GBPUSD Outlook |
Written by ActionForex.com |
Jun 24 09 13:44 GMT |
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GBP/USD strengthens further today but again it's still bounded in range of 1.6185/6617. As discussed before, the corrective structure of price actions from 1.6617 continues to argue that it's merely consolidations only. In other words, GBP/USD has not topped out yet. A break above 1.6617/6661 resistance zone will indicate that whole rise from 1.3654 has resumed, targeting 61.8% projection of 1.4395 to 1.6661 from 1.5801 at 1.7201. But after all, we'd expect upside momentum to diminish as GBP/USD approaches this level and bring reversal finally. On the downside, below 1.6185 will turn focus back to 1.5801 support first. |
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GBPUSD Outlook |
Written by ActionForex.com |
Jun 24 09 07:45 GMT |
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While GBP/USD is still bounded in range of 1.6185/6617, the corrective structure of price actions from 1.6617 continues to argue that it's merely consolidations only. In other words, GBP/USD has not topped out yet. A break above 1.6617/6661 resistance zone will indicate that whole rise from 1.3654 has resumed, targeting 61.8% projection of 1.4395 to 1.6661 from 1.5801 at 1.7201. But after all, we'd expect upside momentum to diminish as GBP/USD approaches this level and bring reversal finally. On the downside, below 1.6185 will turn focus back to 1.5801 support first. |
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GBPUSD Outlook |
Written by ActionForex.com |
Jun 23 09 14:35 GMT |
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Outlook in GBP/USD remains neutral for the moment as it's still staying in range of 1.6185/6617. A break below 1.6185 will flip intraday bias back to the downside for testing 1.5801 support first. Break there will revive the case that GBP/USD has topped out earlier at 1.6661 and will turn outlook bearish for deeper fall. On the upside, note that break of 1.6617/6661 resistance zone will confirm that whole rise from 1.3654 has resumed. But upside momentum should continue to diminish as GBP/USD approaches 61.8% projection of 1.4395 to 1.6661 from 1.5801 at 1.7201 and bring reversal finally. |
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GBPUSD Outlook |
Written by ActionForex.com |
Jun 23 09 08:53 GMT |
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GBP/USD dips further to as low as 1.6207 so far but is still holding above 1.6185 support. We'd prefer to continue to stay neutral for the moment. Though, a break below 1.6185 will flip intraday bias back to the downside for testing 1.5801 support first. Break there will revive the case that GBP/USD has topped out earlier at 1.6661 and will turn outlook bearish for deeper fall. On the upside, note that break of 1.6617/6661 resistance zone will confirm that whole rise from 1.3654 has resumed. But upside momentum should continue to diminish as GBP/USD approaches 61.8% projection of 1.4395 to 1.6661 from 1.5801 at 1.7201 and bring reversal finally. |
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GBPUSD Outlook |
Written by ActionForex.com |
Jun 22 09 14:21 GMT |
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Intraday outlook in GBP/USD remains neutral for the moment as it's still bounded in range of 1.6185 and 1.6617. Note that the corrective structure of price actions from 1.6617 argues that they're merely consolidations to rise from 1.5801. Break of 1.6617/6661 resistance zone will confirm that whole rise from 1.3654 has resumed. But upside momentum should continue to diminish as GBP/USD approaches 61.8% projection of 1.4395 to 1.6661 from 1.5801 at 1.7201 and bring reversal finally. On the downside, below 1.6185 will flip intraday bias back to the downside for 1.5801 support instead and will revive the possibility that GBP/USD has already topped out. |
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