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GBPUSD Outlook |
Written by ActionForex.com |
May 09 08 13:23 GMT |
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Cable's decline resumes in early Us session and dives further to as low as 1.9458 so far. At this point, intraday bias remains on the downside as long as 1.9571 minor resistance holds. Further decline is still expected to retest 1.9337 low. On the upside, above 1.9571 will turn intraday outlook neutral first. But another decline is still in favor as long as upside is limited below 1.9772 resistance. |
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GBPUSD Outlook |
Written by ActionForex.com |
May 09 08 08:45 GMT |
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Cable edges lower to 1.9495 earlier today but lacks follow through momentum so far. At this point, intraday bias is mildly on the downside as long as 1.9623 minor resistance holds and further fall is in favor to retest 1.9337 low. On the upside, above 1.9623 will turn intraday outlook neutral first. But another decline is still in favor as long as upside is limited below 1.9772 resistance. |
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GBPUSD Outlook |
Written by ActionForex.com |
May 08 08 14:24 GMT |
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Cable's consolidation from 1.9502 continues in US session. An intraday low is in place and outlook remains neutral for the moment. Further consolidation could still be seen, but upside should be limited below 1.9772 resistance and bring fall resumption. As discussed before, prior break of 1.9599 support indicates that whole fall from 2.0391 has resumed. It also revived the case that corrective rise from 1.9337 has completed at 2.0391 already. Having said that, further decline is now expected to retest 1.9337 low. |
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GBPUSD Outlook |
Written by ActionForex.com |
May 08 08 08:50 GMT |
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Cable's fall from 2.0029 reached as low as 1.9502 but subsequent recovery and touching of 1.9590 minor resistance indicates that an intraday low is in place. Outlook is turned neutral for the moment and further consolidation could now be seen. Nevertheless, upside should be limited below 1.9772 resistance and bring fall resumption. As discussed before, prior break of 1.9599 support indicates that whole fall from 2.0391 has resumed. It also revived the case that corrective rise from 1.9337 has completed at 2.0391 already. Having said that, further decline is now expected to retest 1.9337 low. |
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GBPUSD Outlook |
Written by ActionForex.com |
May 07 08 14:00 GMT |
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Cable's sharp decline today and break of 1.9599 support indicates that whole fall from 2.0391 has resumed. It also revived the case that corrective rise from 1.9337 has completed at 2.0391 already. Having said that, at this point, intraday bias remains on the downside as long as 1.9590 minor resistance holds. Further decline is now expected to retest 1.9337 low. On the upside, above 1.9590 will turn intraday outlook neutral first. Bur recovery should be limited by 1.9772 resistance and bring another fall. |
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GBPUSD Outlook |
Written by ActionForex.com |
May 07 08 08:02 GMT |
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Cable dives further to as low as 1.9591 today and break of 1.9599 low dampened our original short term bullish view. Instead, it suggests that the decline from 2.0391 might have resumed. At this point, further decline is in favor to retest 0.9337 low as long as 1.9972 resistance holds. Above 1.9772 will turn outlook mixed again. |
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GBPUSD Outlook |
Written by ActionForex.com |
May 06 08 14:52 GMT |
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Choppy consolidation in cable continues. As such consolidation could still extend further, we tend not to out guess the markets in such volatile conditions and prefer to focus on the bigger picture. As mentioned before, the falling wedge formation from 2.0391 to 1.9599 is still the most important factor in the near term outlook as it has short term bullish implication. And with 1.9599 support intact, price actions from 2.0029 is still treated as consolidation to rise from 1.9599 only. On the upside, a break above 1.9965/2.0029 resistance zone will confirm the short term bullish outlook. This will also indicate that rebound from 1.9337 is resuming for retest of 2.0391 resistance. Meanwhile, on the downside, below 1.9599 support is needed to indicate fall from 2.0391 has resumed towards 1.9337 low. |
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GBPUSD Outlook |
Written by ActionForex.com |
May 06 08 08:03 GMT |
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Outlook in cable remains unchanged. It's still bounded by choppy sideway trading between 1.9599 and 2.0029. The possibility of current choppy consolidation from 2.0029 to extend further cannot be ruled out and price actions could continue to be volatile. Nevertheless, the falling wedge formation from 2.0391 to 1.9599 is still the most important factor in the near term outlook as it has short term bullish implication. And with 1.9599 support intact, price actions from 2.0029 is still treated as consolidation to rise from 1.9599 only. On the upside, a break above 1.9965/2.0029 resistance zone will confirm the short term bullish outlook. This will also indicate that rebound from 1.9337 is resuming for retest of 2.0391 resistance. Meanwhile, on the downside, below 1.9599 support is needed to indicate fall from 2.0391 has resumed towards 1.9337 low. |
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GBPUSD Outlook |
Written by ActionForex.com |
May 05 08 15:16 GMT |
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Choppy trading continues today which saw cable diving again after brief recovery. But after all, it's still bounded by choppy sideway trading between 1.9599 and 2.0029. The possibility of current choppy consolidation from 2.0029 to extend further cannot be ruled out and price actions could continue to be volatile. Nevertheless, the falling wedge formation from 2.0391 to 1.9599 is still the most important factor in the near term outlook as it has short term bullish implication. |
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GBPUSD Outlook |
Written by ActionForex.com |
May 05 08 08:18 GMT |
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Cable recovers mildly today but after all, it's still bounded by choppy sideway trading between 1.9599 and 2.0029. The possibility of current choppy consolidation from 2.0029 to extend further cannot be ruled out and price actions could continue to be volatile. Nevertheless, the falling wedge formation from 2.0391 to 1.9599 is still the most important factor in the near term outlook as it has short term bullish implication. And with 1.9599 support intact, price actions from 2.0029 is still treated as consolidation to rise from 1.9599 only. On the upside, a break above 1.9965/2.0029 resistance zone will confirm the short term bullish outlook. This will also indicate that rebound from 1.9337 is resuming for retest of 2.0391 resistance. Meanwhile, on the downside, below 1.9599 support is needed to indicate fall from 2.0391 has resumed towards 1.9337 low. |
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GBPUSD Outlook |
Written by ActionForex.com |
May 03 08 19:29 GMT |
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Outlook in cable remains unchanged as the pair continued to engage in choppy sideway trading between 1.9599 and 2.0029 last week, without making any progress. The possibility of current choppy consolidation from 2.0029 to extend further cannot be ruled out and price actions could continue to be volatile. Nevertheless, the falling wedge formation from 2.0391 to 1.9599 is still the most important factor in the near term outlook as it has short term bullish implication. And with 1.9599 support intact, price actions from 2.0029 is still treated as consolidation to rise from 1.9599 only. On the upside, a break above 1.9965/2.0029 resistance zone will confirm the short term bullish outlook. This will also indicate that rebound from 1.9337 is resuming for retest of 2.0391 resistance. Meanwhile, on the downside, below 1.9599 support is needed to indicate fall from 2.0391 has resumed towards 1.9337 low. |
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GBPUSD Outlook |
Written by ActionForex.com |
May 02 08 13:18 GMT |
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Cable is still the tricky one among the majors. Outlook remains unchanged. The possibility of current choppy consolidation from 2.0029 to extend further cannot be ruled out and price actions will continue to be volatile. Nevertheless, the falling wedge formation from 2.0391 to 1.9599 is still the most important factor in the near term outlook as it has short term bullish implication. And with 1.9599 support intact, price actions from 2.0029 is still treated as consolidation to rise from 1.9599 only. On the upside, a break above 1.9965/2.0029 resistance zone will confirm the short term bullish outlook. This will also indicate that rebound from 1.9337 is resuming for retest of 2.0391 resistance. Meanwhile, on the downside, below 1.9599 support is needed to indicate fall from 2.0391 has resumed towards 1.9337 low. |
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GBPUSD Outlook |
Written by ActionForex.com |
May 02 08 09:06 GMT |
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Outlook remains unchanged in cable. The possibility of current choppy consolidation from 2.0029 to extend further cannot be ruled out and price actions will continue to be volatile. Nevertheless, the falling wedge formation from 2.0391 to 1.9599 is still the most important factor in the near term outlook as it has short term bullish implication. And with 1.9599 support intact, price actions from 2.0029 is still treated as consolidation to rise from 1.9599 only. On the upside, a break above 1.9965/2.0029 resistance zone will confirm the short term bullish outlook. This will also indicate that rebound from 1.9337 is resuming for retest of 2.0391 resistance. Meanwhile, on the downside, below 1.9599 support is needed to indicate fall from 2.0391 has resumed towards 1.9337 low. |
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GBPUSD Outlook |
Written by ActionForex.com |
May 01 08 14:27 GMT |
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Outlook in cable remains unchanged since even though wild volatility is seen in the pair, there isn't any break out yet. The falling wedge formation from 2.0391 to 1.9599 is still the most important factor in the near term outlook as it has short term bullish implication. And with 1.9599 support intact, price actions from 2.0029 is still treated as consolidation to rise from 1.9599 only. On the upside, a break above 1.9965/2.0029 resistance zone will confirm the short term bullish outlook. This will also indicate that rebound from 1.9337 is resuming for retest of 2.0391 resistance. Meanwhile, on the downside, below 1.9599 support is needed to indicate fall from 2.0391 has resumed towards 1.9337 low. |
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GBPUSD Outlook |
Written by ActionForex.com |
May 01 08 08:43 GMT |
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USD/JPY retreats back to established range after brief break of 104.82 but after all, it's still staying above 103.18 support. Intraday bias remain mildly on the upside as long as this support holds. Further rise could now be seen to 104.96/108.59 resistance zone. However, note that loss of upside momentum is still seen in 4 hours MACD and RSI. Below 103.18 will argue that rise from 95.77 has completed and will put focus back to lower channel support (now at 102.17). Break will add more credence to this case and bring further fall to 100.02 support. |
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GBPUSD Outlook |
Written by ActionForex.com |
May 01 08 08:31 GMT |
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Cable's rebound from 1.9624 extends further to as high as 1.9908 today before retreating mildly. Overall outlook remains unchanged. The falling wedge formation from 2.0391 to 1.9599 is still the most important factor in the near term outlook as it has short term bullish implication. And with 1.9599 support intact, price actions from 2.0029 is still treated as consolidation to rise from 1.9599 only. On the upside, a break above 1.9965/2.0029 resistance zone will confirm the short term bullish outlook. This will also, indicate that rebound from 1.9337 is resuming for retest of 2.0391 resistance. Meanwhile, on the downside, below 1.9599 support is needed to indicate fall from 2.0391 has resumed towards 1.9337 low. |
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GBPUSD Outlook |
Written by ActionForex.com |
Apr 30 08 13:55 GMT |
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Cable rebounds strongly after diving to 1.9624 earlier today. Though, with cable staying below 1.9770 minor support, another fall could not be ruled out. But still, the outlook is not outright bearish and is still mixed. As mentioned before, the falling wedge formation from 2.0391 to 1.9599 remains a tricky part of the whole picture as it has short term bullish implication. And with 1.9599 support intact, there is no confirmation of resumption of the fall from 2.0391 yet. |
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GBPUSD Outlook |
Written by ActionForex.com |
Apr 30 08 08:19 GMT |
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Cable dives further to as low as 1.9624 today. While further fall is still mildly in favor with cable staying below 1.9770 minor resistance. The outlook is not outright bearish and is still mixed. As mentioned before, the falling wedge formation from 2.0391 to 1.9599 remains a tricky part of the whole picture as it has short term bullish implication. And with 1.9599 support intact, there is no confirmation of resumption of the fall from 2.0391 yet. |
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GBPUSD Outlook |
Written by ActionForex.com |
Apr 29 08 14:47 GMT |
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Cable's sharp fall from 1.9965 and break break of 1.9781 support indicates that rise from 1.9676 has completed and turns outlook mixed for the moment. The falling wedge formation from 2.0391 to 1.9599 remains a tricky part of the whole picture as it has short term bullish implication. However, a break above 1.9965/2.0029 resistance is still needed to indicate that rebound from 1.9337 is resuming for retest of 2.0391 resistance. Meanwhile, on the downside, below 1.9599 support is needed to indicate fall from 2.0391 has resumed towards 1.9337 low. |
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