Wed, Jul 08, 2020 @ 05:40 GMT

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2464; (P) 1.2492; (R1) 1.2519; More….

Intraday bias in GBP/USD stays neutral with focus on 1.2542 resistance. Decisive break there will argue that whole decline from 1.2813 has completed. Intraday bias will be turned back to the upside for 1.2813 high. On the downside, break of 1.2437 minor support will suggest rejection by 1.2542. Intraday bias will be turned back to the downside for 1.2251 support.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

- advertisement -

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2464; (P) 1.2492; (R1) 1.2519; More….

Intraday bias in GBP/USD for the moment. On the upside, firm break of 1.2542 resistance will argue that whole decline from 1.2813 has completed. Intraday bias will be turned back to the upside for 1.2813 high. Meanwhile, break of 1.2251 will resume the fall to 1.2065 key near term support instead.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

- advertisement -

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2452; (P) 1.2469; (R1) 1.2501; More….

Intraday bias in GBP/USD remains neutral with focus on 1.2542 resistance. Firm break there will argue that whole decline from 1.2813 has completed. Intraday bias will be turned back to the upside for 1.2813 high. Meanwhile, break of 1.2251 will resume the fall to 1.2065 key near term support instead.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

- advertisement -

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2452; (P) 1.2469; (R1) 1.2501; More….

Intraday bias in GBP/USD remains neutral first. On the upside, break of 1.2542 will argue that whole decline from 1.2813 has completed. Intraday bias will be turned back to the upside for 1.2813 high. Meanwhile, break of 1.2251 will resume the fall to 1.2065 key near term support instead.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

- advertisement -

GBP/USD Weekly Outlook

GBP/USD edged lower to 1.2251 last week but rebound strongly since then. Still, upside was limited below 1.2542 near term resistance. Initial bias remains neutral this week first. On the upside, break of 1.2542 will argue that whole decline from 1.2813 has completed. Intraday bias will be turned back to the upside for 1.2813 high. Meanwhile, break of 1.2251 will resume the fall to 1.2065 key near term support instead.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

In the longer term picture, long term outlook remains clearly bearish, as it’s held well below long term falling trend line that started back at 2116 (2007 high). Prior rejections by 55 month EMA also affirmed bearishness. Further fall is expected as long as 1.3514 resistance holds.

- advertisement -

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2441; (P) 1.2485; (R1) 1.2514; More….

Intraday bias in GBP/USD remains neutral for the moment. On the upside, firm break of 1.2542 resistance will suggest completion of the pullback from 1.2813. Intraday bias will be turned back to the upside to retest 1.2813 and break will resume the whole rise from 1.1409. On the downside, break of 1.2251 will resume the decline to 1.2065 key near term support instead.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

- advertisement -

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2394; (P) 1.2442; (R1) 1.2525; More….

GBP/USD is still staying below 1.2542 resistance and intraday bias remains neutral first. Firm break of 1.2542 will suggest completion of the pullback from 1.2813. Intraday bias will be turned back to the upside to retest 1.2813 and break will resume the whole rise from 1.1409. On the downside, break of 1.2251 will resume the decline to 1.2065 key near term support instead.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

- advertisement -

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2394; (P) 1.2442; (R1) 1.2525; More….

Focus is now back on 1.2542 in GBP/USD with today’s rebound. Firm break there will suggest completion of the pullback from 1.2813. Intraday bias will be turned back to the upside to retest 1.2813 and break will resume the whole rise from 1.1409. On the downside, break of 1.2251 will resume the decline to 1.2065 key near term support instead.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

- advertisement -

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2305; (P) 1.2354; (R1) 1.2449; More….

Intraday bias in GBP/USD remains neutral for consolidation above 1.2251 temporary first. Further fall is expected as long as 1.2542 resistance holds. On the downside, break of 1.2251 will resume the fall from 1.2814 to 1.2065 support. Nevertheless, break of 1.2542 will suggest completion of the decline and turn bias back to the upside.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

- advertisement -

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2305; (P) 1.2354; (R1) 1.2449; More….

A temporary low is formed at 1.2251 and intraday bias is turned neutral first. Some consolidations could be seen but further decline is expected as long as 1.2542 resistance holds. On the downside, break of 1.2251 will resume the fall from 1.2814 to 1.2065 support. Nevertheless, break of 1.2542 will suggest completion of the decline and turn bias back to the upside.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

- advertisement -

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2237; (P) 1.2313; (R1) 1.2375; More….

Intraday bias in GBP/USD stays on the downside at this point. Fall from 1.2813 should target 1.2065 support. Decisive break of 1.2065 support will confirmation completion of whole rebound from 1.1409. Deeper decline would then be seen to retest 1.1409 low. On the upside, above 1.2389 minor resistance will turn intraday bias neutral first. But further fall will remain in favor as long as 1.2542 resistance holds.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

- advertisement -

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2237; (P) 1.2313; (R1) 1.2375; More….

Intraday bias in GBP/USD remains on the downside. Fall from 1.2813 should target 1.2065 support. Decisive break of 1.2065 support will confirmation completion of whole rebound from 1.1409. Deeper decline would then be seen to retest 1.1409 low. On the upside, above 1.2389 minor resistance will turn intraday bias neutral first. But further fall will remain in favor as long as 1.2542 resistance holds.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

- advertisement -

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2289; (P) 1.2363; (R1) 1.2411; More….

GBP/USD’s fall from 1.2813 continues today and intraday bias remains on the downside for 1.2065 support. Decisive break of 1.2065 support will confirmation completion of whole rebound from 1.1409. Deeper decline would then be seen to retest 1.1409 low. On the upside, above 1.2389 minor resistance will turn intraday bias neutral first. But further fall will remain in favor as long as 1.2542 resistance holds.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

- advertisement -

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2289; (P) 1.2363; (R1) 1.2411; More….

At this point, further decline is expected in GBP/USD despite today’s recovery. Decisive break of 1.2065 support will confirmation completion of whole rebound from 1.1409. Deeper decline would then be seen to retest 1.1409 low. However, on the upside, break of 1.2542 will argue that the fall from 1.2813 might be completed. Intraday bias will be turned back to the upside for 1.2587/2813 resistance zone.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

- advertisement -

GBP/USD Weekly Outlook

GBP/USD’s fall from 1.2813 extended last week despite brief recovery. Initial bias is now on the downside this week for 1.2065 support. Decisive break there will confirmation completion of whole rebound from 1.1409. Deeper decline would then be seen to retest 1.1409 low. However, on the upside, break of 1.2542 will argue that the fall from 1.2813 might be completed. Intraday bias will be turned back to the upside for 1.2587/2813 resistance zone.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

In the longer term picture, long term outlook remains clearly bearish, as it’s held well below long term falling trend line that started back at 2116 (2007 high). Prior rejections by 55 month EMA also affirmed bearishness. Further fall is expected as long as 1.3514 resistance holds.

- advertisement -

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2383; (P) 1.2424; (R1) 1.2458; More….

Intraday bias in GBP/USD remains neutral at this point but fall from 1.2813 is in favor to continue. Break of 1.2334 will target 1.2065 support first. Firm break there will confirm completion of rebound from 1.1409 at 1.2813. However, on the upside, break of 1.2542 will argue that the fall from 1.2813 might be completed. Intraday bias will be turned back to the upside for 1.2587/2813 resistance zone.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

- advertisement -

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2383; (P) 1.2424; (R1) 1.2458; More….

Intraday bias in GBP/USD remains neutral first. Fall from 1.2813 is in favor to continue. Break of 1.2334 will target 1.2065 support first. Firm break there will confirm completion of rebound from 1.1409 at 1.2813. However, on the upside, break of 1.2542 will argue that the fall from 1.2813 might be completed. Intraday bias will be turned back to the upside for 1.2587/2813 resistance zone.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

- advertisement -

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2375; (P) 1.2459; (R1) 1.2504; More….

Intraday bias in GBP/USD remains neutral and outlook is unchanged. As long as 1.2587 resistance holds, further decline remains mildly in favor. Below 1.2334 temporary will target 1.2065 support first. Firm break there will confirm completion of rebound from 1.1409 at 1.2813. However, break of 1.2587 will dampen this bearish view and bring retest of 1.2813 high instead.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

- advertisement -

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2375; (P) 1.2459; (R1) 1.2504; More….

Intraday bias in GBP/USD stays neutral for the moment. As long as 1.2587 resistance holds, further decline remains mildly in favor. Below 1.2334 temporary will target 1.2065 support first. Firm break there will confirm completion of rebound from 1.1409 at 1.2813. However, break of 1.2587 will dampen this bearish view and bring retest of 1.2813 high instead.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

- advertisement -

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2458; (P) 1.2495; (R1) 1.2557; More….

Intraday bias in GBP/USD remains neutral at this point. As long as 1.2587 resistance holds, further decline remains mildly in favor. Below 1.2334 temporary will target 1.2065 support first. Firm break there will confirm completion of rebound from 1.1409 at 1.2813. However, break of 1.2587 will dampen this bearish view and bring retest of 1.2813 high instead.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

- advertisement -
- advertisement -