Daily Pivots: (S1) 1.3354; (P) 1.3378; (R1) 1.3401; More…

GBP/USD’s rise from 1.3008 resumed after brief consolidations and intraday bias is back on the upside. As noted before, fall from 1.3787 should have completed as a three-wave correction to 1.3008. Above 1.3428 and firm break of 1.3470 resistance will pave the way back to retest 1.3787 high. On the downside, below 1.3341 minor support will turn intraday bias neutral again first.

In the bigger picture, current development suggests that fall from 1.3787 is merely a corrective move, and larger rise from 1.0351 (2022 low) is still in progress. Firm break of 1.3787 will target 1.4248 (2021 high) key structural resistance. This will remain the favored case as long as target 38.2% retracement of 1.0351 to 1.3787 at 1.2474 holds, in case of another fall.

Daily Pivots: (S1) 1.3354; (P) 1.3378; (R1) 1.3401; More…

Intraday bias in GBP/USD remains neutral as consolidations continue below 1.3438. With 1.3286 support intact, further rally is expected. As noted before, fall from 1.3787 should have completed as a three-wave correction to 1.3008. Above 1.3428 and firm break of 1.3470 resistance will pave the way back to retest 1.3787 high. However, sustained break of 1.3286 support will mix up the near term outlook.

In the bigger picture, current development suggests that fall from 1.3787 is merely a corrective move, and larger rise from 1.0351 (2022 low) is still in progress. Firm break of 1.3787 will target 1.4248 (2021 high) key structural resistance. This will remain the favored case as long as target 38.2% retracement of 1.0351 to 1.3787 at 1.2474 holds, in case of another fall.

Daily Pivots: (S1) 1.3342; (P) 1.3371; (R1) 1.3400; More…

GBP/USD is extending consolidations below 1.3438 and intraday bias stays neutral. With 1.3286 support intact, further rally is expected. As noted before, fall from 1.3787 should have completed as a three-wave correction to 1.3008. Above 1.3428 and firm break of 1.3470 resistance will pave the way back to retest 1.3787 high. However, sustained break of 1.3286 support will mix up the near term outlook.

In the bigger picture, current development suggests that fall from 1.3787 is merely a corrective move, and larger rise from 1.0351 (2022 low) is still in progress. Firm break of 1.3787 will target 1.4248 (2021 high) key structural resistance. This will remain the favored case as long as target 38.2% retracement of 1.0351 to 1.3787 at 1.2474 holds, in case of another fall.

Daily Pivots: (S1) 1.3342; (P) 1.3371; (R1) 1.3400; More…

Intraday bias in GBP/USD remains neutral and further rally is expected as long as 1.3286 support holds. As noted before, fall from 1.3787 should have completed as a three-wave correction to 1.3008. Above 1.3428 and firm break of 1.3470 resistance will pave the way back to retest 1.3787 high. However, sustained break of 1.3286 support will mix up the near term outlook.

In the bigger picture, current development suggests that fall from 1.3787 is merely a corrective move, and larger rise from 1.0351 (2022 low) is still in progress. Firm break of 1.3787 will target 1.4248 (2021 high) key structural resistance. This will remain the favored case as long as target 38.2% retracement of 1.0351 to 1.3787 at 1.2474 holds, in case of another fall.

GBP/USD’s rally from 1.3008 extended to 1.3438 last week but retreated from there. Initial bias remains neutral this week first. Further rally is expected as long as 1.3286 support holds. As noted before, fall from 1.3787 should have completed as a three-wave correction to 1.3008. Above 1.3428 and firm break of 1.3470 resistance will pave the way back to retest 1.3787 high. However, sustained break of 1.3286 support will mix up the near term outlook.

In the bigger picture, current development suggests that fall from 1.3787 is merely a corrective move, and larger rise from 1.0351 (2022 low) is still in progress. Firm break of 1.3787 will target 1.4248 (2021 high) key structural resistance. This will remain the favored case as long as target 38.2% retracement of 1.0351 to 1.3787 at 1.2474 holds, in case of another fall.

In the long term picture, as long as 1.4248/4480 resistance zone holds (38.2% retracement of 2.1161 to 1.0351 at 1.4480), the long term outlook will remain bearish. That is, price actions from 1.3051 are seen as a corrective pattern to down trend from 2.1161 (2007 high) only. Nevertheless, decisive break of 1.4248/4480 will be a strong sign of long term bullish reversal.

Daily Pivots: (S1) 1.3349; (P) 1.3393; (R1) 1.3432; More…

Intraday bias in GBP/USD is turned neutral with current retreat, and some consolidations would be seen below 1.3438 temporary top. But further rally is expected with 1.3286 support intact. As noted before, fall from 1.3787 should have completed as a three-wave correction to 1.3008. Above 1.3438 will target 1.3470 resistance. Firm break there will pave the way to retest 1.3787 high.

In the bigger picture, current development suggests that fall from 1.3787 is merely a corrective move, and larger rise from 1.0351 (2022 low) is still in progress. Firm break of 1.3787 will target 1.4248 (2021 high) key structural resistance. This will remain the favored case as long as target 38.2% retracement of 1.0351 to 1.3787 at 1.2474 holds, in case of another fall.

Daily Pivots: (S1) 1.3349; (P) 1.3393; (R1) 1.3432; More…

Intraday bias in GBP/USD remains on the upside as rise from 1.3008 is in progress. As noted before, fall from 1.3787 should have completed as a three-wave correction to 1.3008. Firm break of 1.3470 resistance will pave the way to retest 1.3787 high. Further rally is expected as long as 1.3286 support holds, in case of retreat.

In the bigger picture, current development suggests that fall from 1.3787 is merely a corrective move, and larger rise from 1.0351 (2022 low) is still in progress. Firm break of 1.3787 will target 1.4248 (2021 high) key structural resistance. This will remain the favored case as long as target 38.2% retracement of 1.0351 to 1.3787 at 1.2474 holds, in case of another fall.

Daily Pivots: (S1) 1.3323; (P) 1.3356; (R1) 1.3416; More…

GBP/USD’s rise from 1.3008 resumed by breaking through 1.3384 and intraday bias is back on the upside. As noted before, fall from 1.3787 should have completed as a three-wave correction to 1.3008. Firm break of 1.3470 resistance will pave the way to retest 1.3787 high. Further rally is expected as long as 1.3286 support holds, in case of retreat.

In the bigger picture, current development suggests that fall from 1.3787 is merely a corrective move, and larger rise from 1.0351 (2022 low) is still in progress. Firm break of 1.3787 will target 1.4248 (2021 high) key structural resistance. This will remain the favored case as long as target 38.2% retracement of 1.0351 to 1.3787 at 1.2474 holds, in case of another fall.

Daily Pivots: (S1) 1.3323; (P) 1.3356; (R1) 1.3416; More…

Intraday bias in GBP/USD remains neutral and further rally is expected with 1.3178 support intact. As noted before, fall from 1.3787 should have completed as a three-wave correction to 1.3008. On the upside, above 1.3384 will target 1.3470 resistance. Decisive break there will bring retest of 1.3787 high.

In the bigger picture, current development suggests that fall from 1.3787 is merely a corrective move, and larger rise from 1.0351 (2022 low) is still in progress. Firm break of 1.3787 will target 1.4248 (2021 high) key structural resistance. This will remain the favored case as long as target 38.2% retracement of 1.0351 to 1.3787 at 1.2474 holds, in case of another fall.

Daily Pivots: (S1) 1.3271; (P) 1.3314; (R1) 1.3339; More…

Intraday bias in GBP/USD remains neutral as consolidations continue below 1.3384. With 1.3178 support intact, further rally is expected. As noted before, fall from 1.3787 should have completed as a three-wave correction to 1.3008. On the upside, above 1.3384 will target 1.3470 resistance. Decisive break there will bring retest of 1.3787 high.

In the bigger picture, current development suggests that fall from 1.3787 is merely a corrective move, and larger rise from 1.0351 (2022 low) is still in progress. Firm break of 1.3787 will target 1.4248 (2021 high) key structural resistance. This will remain the favored case as long as target 38.2% retracement of 1.0351 to 1.3787 at 1.2474 holds, in case of another fall.

Daily Pivots: (S1) 1.3271; (P) 1.3314; (R1) 1.3339; More…

GBP/USD is still bounded in consolidations below 1.3384 temporary top and intraday bias stays neutral. With 1.3178 support intact, further rally is expected. As noted before, fall from 1.3787 should have completed as a three-wave correction to 1.3008. On the upside, above 1.3384 will target 1.3470 resistance. Decisive break there will bring retest of 1.3787 high.

In the bigger picture, current development suggests that fall from 1.3787 is merely a corrective move, and larger rise from 1.0351 (2022 low) is still in progress. Firm break of 1.3787 will target 1.4248 (2021 high) key structural resistance. This will remain the favored case as long as target 38.2% retracement of 1.0351 to 1.3787 at 1.2474 holds, in case of another fall.

Daily Pivots: (S1) 1.3303; (P) 1.3325; (R1) 1.3344; More…

GBP/USD is extending consolidations below 1.3384 temporary top. Intraday bias remains neutral. With 1.3178 support intact, further rally is still expected. As noted before, fall from 1.3787 should have completed as a three-wave correction to 1.3008. On the upside, above 1.3384 will target 1.3470 resistance. Decisive break there will bring retest of 1.3787 high.

In the bigger picture, current development suggests that fall from 1.3787 is merely a corrective move, and larger rise from 1.0351 (2022 low) is still in progress. Firm break of 1.3787 will target 1.4248 (2021 high) key structural resistance. This will remain the favored case as long as target 38.2% retracement of 1.0351 to 1.3787 at 1.2474 holds, in case of another fall.

Daily Pivots: (S1) 1.3303; (P) 1.3325; (R1) 1.3344; More…

Intraday bias in GBP/USD remains neutral for consolidations below 1.3384 temporary top. With 1.3178 support intact, further rally is still expected. As noted before, fall from 1.3787 should have completed as a three-wave correction to 1.3008. On the upside, above 1.3384 will target 1.3470 resistance. Decisive break there will bring retest of 1.3787 high.

In the bigger picture, current development suggests that fall from 1.3787 is merely a corrective move, and larger rise from 1.0351 (2022 low) is still in progress. Firm break of 1.3787 will target 1.4248 (2021 high) key structural resistance. This will remain the favored case as long as target 38.2% retracement of 1.0351 to 1.3787 at 1.2474 holds, in case of another fall.

Daily Pivots: (S1) 1.3311; (P) 1.3336; (R1) 1.3357; More…

GBP/USD is staying in consolidations below 1.3384 and intraday bias remains neutral. With 1.3178 support intact, further rally is still expected. As noted before, fall from 1.3787 should have completed as a three-wave correction to 1.3008. On the upside, above 1.3384 will target 1.3470 resistance. Decisive break there will bring retest of 1.3787 high.

In the bigger picture, current development suggests that fall from 1.3787 is merely a corrective move, and larger rise from 1.0351 (2022 low) is still in progress. Firm break of 1.3787 will target 1.4248 (2021 high) key structural resistance. This will remain the favored case as long as target 38.2% retracement of 1.0351 to 1.3787 at 1.2474 holds, in case of another fall.

Daily Pivots: (S1) 1.3311; (P) 1.3336; (R1) 1.3357; More…

Intraday bias in GBP/USD stays neutral first and further rally is expected with 1.3178 support intact. As noted before, fall from 1.3787 should have completed as a three-wave correction to 1.3008. On the upside, above 1.3384 will target 1.3470 resistance. Decisive break there will bring retest of 1.3787 high.

In the bigger picture, current development suggests that fall from 1.3787 is merely a corrective move, and larger rise from 1.0351 (2022 low) is still in progress. Firm break of 1.3787 will target 1.4248 (2021 high) key structural resistance. This will remain the favored case as long as target 38.2% retracement of 1.0351 to 1.3787 at 1.2474 holds, in case of another fall.

GBP/USD’s rebound from 1.3008 resumed last week but retreated after hitting 1.3384. Initial bias remains neutral this week for some consolidations. But further rally is expected as 1.3178 support holds. Current development suggests that fall from 1.3787 has completed as a three-wave correction to 1..3008. Above 13384 will target 1.3470 resistance. Decisive break there will bring retest of 1.3787 high.

In the bigger picture, current development suggests that fall from 1.3787 is merely a corrective move, and larger rise from 1.0351 (2022 low) is still in progress. Firm break of 1.3787 will target 1.4248 (2021 high) key structural resistance. This will remain the favored case as long as target 38.2% retracement of 1.0351 to 1.3787 at 1.2474 holds, in case of another fall.

In the long term picture, as long as 1.4248/4480 resistance zone holds (38.2% retracement of 2.1161 to 1.0351 at 1.4480), the long term outlook will remain bearish. That is, price actions from 1.3051 are seen as a corrective pattern to down trend from 2.1161 (2007 high) only. Nevertheless, decisive break of 1.4248/4480 will be a strong sign of long term bullish reversal.

Daily Pivots: (S1) 1.3303; (P) 1.3344; (R1) 1.3369; More…

Intraday bias in GBP/USD stays on the upside for the moment. Rise from 1.3008 is in progress for 1.3470 resistance first. Decisive break there will pave the way to retest 1.3725/3787 resistance zone. On the downside, below 1.3274 resistance turned support will turn intraday bias neutral first. But risk will stay on the upside as long as 1.3718 support holds, in case of retreat.

In the bigger picture, the break of 55 W EMA (now at 1.3184) is taken as the first sign that corrective rise from 1.0351 (2022 low) has completed. Decisive break of trend line support (now at 1.2760) will solidify this case and target 38.2% retracement of 1.0351 to 1.3787 at 1.2474 next. Meanwhile, in case of another rise, strong resistance should emerge below 1.4248 (2021 high) to cap upside to preserve the long term down trend.

Daily Pivots: (S1) 1.3303; (P) 1.3344; (R1) 1.3369; More…

Intraday bias in GBP/USD remains on the upside and rise from 1.3008 should extend to 1.3470 resistance first. Decisive break there will pave the way to retest 1.3725/3787 resistance zone. On the downside, below 1.3274 resistance turned support will turn intraday bias neutral first. But risk will stay on the upside as long as 1.3718 support holds, in case of retreat.

In the bigger picture, the break of 55 W EMA (now at 1.3184) is taken as the first sign that corrective rise from 1.0351 (2022 low) has completed. Decisive break of trend line support (now at 1.2760) will solidify this case and target 38.2% retracement of 1.0351 to 1.3787 at 1.2474 next. Meanwhile, in case of another rise, strong resistance should emerge below 1.4248 (2021 high) to cap upside to preserve the long term down trend.

Daily Pivots: (S1) 1.3250; (P) 1.3303; (R1) 1.3405; More…

Intraday bias in GBP/USD remains on the upside for the moment. Fall from 1.3787 could have completed as a correction at 1.3008. Firm break of 1.3470 resistance will pave the way to retest 1.3725/3787 resistance zone. On the downside, below 1.3274 resistance turned support will turn intraday bias neutral first. But risk will stay on the upside as long as 1.3718 support holds, in case of retreat.

In the bigger picture, the break of 55 W EMA (now at 1.3184) is taken as the first sign that corrective rise from 1.0351 (2022 low) has completed. Decisive break of trend line support (now at 1.2760) will solidify this case and target 38.2% retracement of 1.0351 to 1.3787 at 1.2474 next. Meanwhile, in case of another rise, strong resistance should emerge below 1.4248 (2021 high) to cap upside to preserve the long term down trend.

Daily Pivots: (S1) 1.3250; (P) 1.3303; (R1) 1.3405; More…

Intraday in GBP/USD stays on the upside for 1.3470 resistance. Fall from 1.3787 could have completed as a correction at 1.3008. Firm break of 1.3470 will pave the way to retest 1.3725/3787 resistance zone. For now, risk will stay on the upside as long as 1.3718 support holds, in case of retreat.

In the bigger picture, the break of 55 W EMA (now at 1.3184) is taken as the first sign that corrective rise from 1.0351 (2022 low) has completed. Decisive break of trend line support (now at 1.2760) will solidify this case and target 38.2% retracement of 1.0351 to 1.3787 at 1.2474 next. Meanwhile, in case of another rise, strong resistance should emerge below 1.4248 (2021 high) to cap upside to preserve the long term down trend.