Thu, Oct 06, 2022 @ 11:49 GMT

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.1206; (P) 1.1350; (R1) 1.1473; More

Intraday bias in GBP/USD remains neutral for the moment. On the downside, break of 1.1023 minor support will indicate that rebound from 1.0351 is over. Intraday bias will be back on the downside for retesting 1.0351. On the upside, firm break of 61.8% retracement of 1.2292 to 1.0351 at 1.1551 will pave the way to 1.2292 resistance.

In the bigger picture, fall from 1.4248 (2018 high) is resuming long term down trend from 2.1161 (2007 high). Next target is 100% projection of 2.1161 to 1.3503 from 1.7190 at 0.9532. There is no scope of a medium term rebound as long as 1.1759 support turned resistance holds.

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1159; (P) 1.1247; (R1) 1.1408; More

Intraday bias in GBP/USD is turned neutral with current retreat. On the downside, break of 1.1023 minor support will indicate that rebound from 1.0351 is over. Intraday bias will be back on the downside for retesting 1.0351. On the upside, firm break of 61.8% retracement of 1.2292 to 1.0351 at 1.1551 will pave the way to 1.2292 resistance.

In the bigger picture, fall from 1.4248 (2018 high) is resuming long term down trend from 2.1161 (2007 high). Next target is 100% projection of 2.1161 to 1.3503 from 1.7190 at 0.9532. There is no scope of a medium term rebound as long as 1.1759 support turned resistance holds.

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.1159; (P) 1.1247; (R1) 1.1408; More

Intraday bias in GBP/USD stays on the upside. Rise from 1.0351 short term bottom would target 61.8% retracement of 1.2292 to 1.0351 at 1.1551. Strong resistance could be seen around 55 day EMA (now at 1.1614) to limit upside on first attempt. But sustained break there will pave the way to 1.2292 resistance. On the downside, below 1.1023 minor support will turn intraday bias back to the downside for 1.0351 instead.

In the bigger picture, fall from 1.4248 (2018 high) is resuming long term down trend from 2.1161 (2007 high). Next target is 100% projection of 2.1161 to 1.3503 from 1.7190 at 0.9532. There is no scope of a medium term rebound as long as 1.1759 support turned resistance holds.

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1159; (P) 1.1247; (R1) 1.1408; More

Intraday bias in GBP/USD remains on the upside as rise from 1.0351 short term bottom is in progress. Further rally would be seen to 61.8% retracement of 1.2292 to 1.0351 at 1.1551. Strong resistance could be seen around 55 day EMA (now at 1.1614) to limit upside on first attempt. On the downside, below 1.1023 minor support will turn intraday bias neutral first.

In the bigger picture, fall from 1.4248 (2018 high) is resuming long term down trend from 2.1161 (2007 high). Next target is 100% projection of 2.1161 to 1.3503 from 1.7190 at 0.9532. There is no scope of a medium term rebound as long as 1.1759 support turned resistance holds.

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.1159; (P) 1.1247; (R1) 1.1408; More

Intraday bias in GBP/USD stays on the upside at this point. Rise from 1.0351 short term bottom is in progress. Further rally would be seen to 61.8% retracement of 1.2292 to 1.0351 at 1.1551. Strong resistance could be seen around 55 day EMA (now at 1.1614) to limit upside on first attempt. On the downside, below 1.1023 minor support will turn intraday bias neutral first.

In the bigger picture, fall from 1.4248 (2018 high) is resuming long term down trend from 2.1161 (2007 high). Next target is 100% projection of 2.1161 to 1.3503 from 1.7190 at 0.9532. There is no scope of a medium term rebound as long as 1.1759 support turned resistance holds.

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1052; (P) 1.1143; (R1) 1.1260; More

GBP/USD’s rebound from 1.0351 is in progress and intraday bias stays on the upside, Further rally would be seen to 61.8% retracement of 1.2292 to 1.0351 at 1.1551. On the downside, break of 1.0914 minor support will indicate that the rebound is over, and bring retest of 1.0351 low.

In the bigger picture, fall from 1.4248 (2018 high) is resuming long term down trend from 2.1161 (2007 high). Next target is 100% projection of 2.1161 to 1.3503 from 1.7190 at 0.9532. There is no scope of a medium term rebound as long as 1.1759 support turned resistance holds.

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.1052; (P) 1.1143; (R1) 1.1260; More

Intraday bias in GBP/USD remains on the upside as rebound from 1.0351 is in progress. Further rally would be seen to 61.8% retracement of 1.2292 to 1.0351 at 1.1551. On the downside, break of 1.0760 minor support will indicate that the rebound is over, and bring retest of 1.0351 low.

In the bigger picture, fall from 1.4248 (2018 high) is resuming long term down trend from 2.1161 (2007 high). Next target is 100% projection of 2.1161 to 1.3503 from 1.7190 at 0.9532. There is no scope of a medium term rebound as long as 1.1759 support turned resistance holds.

GBP/USD Weekly Outlook

GBP/USD rebounded strongly after diving to 1.0351 last week. Initial bias is mildly on the upside this week. Further rally would be seen to 61.8% retracement of 1.2292 to 1.0351 at 1.1551. On the downside, break of 1.0760 minor support will indicate that the rebound is over, and bring retest of 1.0351 low.

In the bigger picture, fall from 1.4248 (2018 high) is resuming long term down trend from 2.1161 (2007 high). Next target is 100% projection of 2.1161 to 1.3503 from 1.7190 at 0.9532. There is no scope of a medium term rebound as long as 1.1759 support turned resistance holds.

In the longer term picture, long term down trend from 2.1161 (2007) high is still in progress. Next target is 100% projection of 2.1161 to 1.3503 from 1.7190 at 0.9532.

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0881; (P) 1.1000; (R1) 1.1238; More

GBP/USD’s rebound from 1.0351 is still in progress and intraday bias stays mildly on the upside. Further rise could be seen to 61.8% retracement of 1.2292 to 1.0351 at 1.1551. On the downside, break of 1.0760 minor support will indicate that the rebound is over, and bring retest of 1.0351 low.

In the bigger picture, fall from 1.4248 (2018 high) is resuming long term down trend from 2.1161 (2007 high). Next target is 100% projection of 2.1161 to 1.3503 from 1.7190 at 0.9532. There is no scope of a medium term rebound as long as 1.1759 support turned resistance holds.

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.0881; (P) 1.1000; (R1) 1.1238; More

GBP/USD’s rebound from 1.0351 extended higher today and the break of 4 hour 55 EMA (now at 1.1037) is a positive sign. For now, intraday bias is mildly on the upside for further rise to 61.8% retracement of 1.2292 to 1.0351 at 1.1551. On the downside, break of 1.0760 minor support will indicate that the rebound is over, and bring retest of 1.0351 low.

In the bigger picture, fall from 1.4248 (2018 high) is resuming long term down trend from 2.1161 (2007 high). Next target is 100% projection of 2.1161 to 1.3503 from 1.7190 at 0.9532. There is no scope of a medium term rebound as long as 1.1759 support turned resistance holds.

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0648; (P) 1.0782; (R1) 1.1023; More

Intraday bias in GBP/USD stays neutral for the moment, as recovery from 1.0351 is extending. While stronger recovery cannot be ruled out, upside should be limited by 4 hour 55 EMA (now at 1.1017). On the downside, break of 1.0351 will resume larger down trend towards parity next. Nevertheless, sustained trading above 4 hour 55 EMA will bring stronger rebound towards 1.1404 support turned resistance.

In the bigger picture, fall from 1.4248 (2018 high) is resuming long term down trend from 2.1161 (2007 high). Next target is 100% projection of 2.1161 to 1.3503 from 1.7190 at 0.9532. There is no scope of a medium term rebound as long as 1.1759 support turned resistance holds.

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.0648; (P) 1.0782; (R1) 1.1023; More

Intraday bias in GBP/USD remains neutral as consolidation from 1.0351 continues. While stronger recovery cannot be ruled out, upside should be limited by 4 hour 55 EMA (now at 1.1035). On the downside, break of 1.0351 will resume larger down trend towards parity next.

In the bigger picture, fall from 1.4248 (2018 high) is resuming long term down trend from 2.1161 (2007 high). Next target is 100% projection of 2.1161 to 1.3503 from 1.7190 at 0.9532. There is no scope of a medium term rebound as long as 1.1759 support turned resistance holds.

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0645; (P) 1.0742; (R1) 1.0829; More

GBP/USD is staying in consolidation above 1.0351 temporary low and intraday bias remains neutral. While stronger recovery cannot be ruled out, upside should be limited by 4 hour 55 EMA (now at 1.1051). On the downside, break of 1.0351 will resume larger down trend towards parity next.

In the bigger picture, fall from 1.4248 (2018 high) is resuming long term down trend from 2.1161 (2007 high). Next target is 100% projection of 2.1161 to 1.3503 from 1.7190 at 0.9532. There is no scope of a medium term rebound as long as 1.1759 support turned resistance holds.

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.0645; (P) 1.0742; (R1) 1.0829; More

Intraday bias in GBP/USD remains neutral and more consolidation could be seen. While stronger recovery cannot be ruled out, upside should be limited by 4 hour 55 EMA (now at 1.1080). On the downside, break of 1.0351 will resume larger down trend towards parity next.

In the bigger picture, fall from 1.4248 (2018 high) is resuming long term down trend from 2.1161 (2007 high). Next target is 100% projection of 2.1161 to 1.3503 from 1.7190 at 0.9532. There is no scope of a medium term rebound as long as 1.1759 support turned resistance holds.

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0381; (P) 1.0655; (R1) 1.0962; More

GBP/USD is staying in consolidation above 1.0351 temporary low. Intraday bias stays neutral first. While stronger recovery cannot be ruled out, risk will stay on the downside as long as 1.1404 support turned resistance holds. Break of 1.0351 will resume larger down trend towards parity next.

In the bigger picture, fall from 1.4248 (2018 high) is resuming long term down trend from 2.1161 (2007 high). Next target is 100% projection of 2.1161 to 1.3503 from 1.7190 at 0.9532. There is no scope of a medium term rebound as long as 1.1759 support turned resistance holds.

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.0381; (P) 1.0655; (R1) 1.0962; More

Intraday bias in GBP/USD remains neutral for consolidation above 1.0351. Risk will stay on the downside as long as 1.1404 support turned resistance holds. Break of 1.0351 will resume larger down trend towards parity next.

In the bigger picture, fall from 1.4248 (2018 high) is resuming long term down trend from 2.1161 (2007 high). Next target is 100% projection of 2.1161 to 1.3503 from 1.7190 at 0.9532. There is no scope of a medium term rebound as long as 1.1759 support turned resistance holds.

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.0706; (P) 1.0990; (R1) 1.1140; More

Break of 1.0844 minor resistance suggests that a temporary low is formed at 1.0351, ahead of 100% projection of 1.3748 to 1.1759 from 1.2292 at 1.0303. Intraday bias in GBP/USD is turned neutral for some consolidations. But risk will stay on the downside as long as 1.1404 support turned resistance holds. Sustained break of 1.0303 will pave the way to parity.

In the bigger picture, fall from 1.4248 (2018 high) is resuming long term down trend from 2.1161 (2007 high). Next target is 100% projection of 2.1161 to 1.3503 from 1.7190 at 0.9532. There is no scope of a medium term rebound as long as 1.1759 support turned resistance holds.

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.0706; (P) 1.0990; (R1) 1.1140; More

GBP/USD’s decline continues today and reached as long as 1.0351. Intraday bias stays on the downside but some support could be seen from 100% projection of 1.3748 to 1.1759 from 1.2292 at 1.0303 to bring rebound. On the upside, break of 1.0844 minor resistance will turn intraday bias neutral first. However, sustained break of 1.0303 will target parity next.

In the bigger picture, fall from 1.4248 (2018 high) is resuming long term down trend from 2.1161 (2007 high). Next target is 100% projection of 2.1161 to 1.3503 from 1.7190 at 0.9532. There is no scope of a medium term rebound as long as 1.1759 support turned resistance holds.

GBP/USD Weekly Outlook

GBP/USD’s down trend accelerated to as low as 1.0837 last week and there is no sign of bottoming yet. Break of the near term channel support indicates downside acceleration. Next target is 1.0675 long term projection level, and then 100% projection of 1.3748 to 1.1759 from 1.2292 at 1.0303. On the upside, above 1.1095 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

In the bigger picture, fall from 1.4248 (2018 high) is resuming long term down trend from 2.1161 (2007 high). Next target is 61.8% projection of 1.7190 (2014 high) to 1.1409 (2020 low) from 1.4248 (2021 high) at 1.0675. Firm break there will target parity. This will remain the favored case for now as long as 1.2292 resistance holds.

In the longer term picture, long term down trend from 2.1161 (2007) high is still in progress. Next target is 100% projection of 2.1161 to 1.3503 from 1.7190 at 0.9532.

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.1190; (P) 1.1277; (R1) 1.1342; More

GBP/USD dives to as low as 1.1019 so far, meeting 61.8% projection of 1.3748 to 1.1759 from 1.2292 at 1.1063. there is no sign of bottoming yet. Intraday bias stays on the downside for 100% projection at 1.0303. On the upside, above 1.1210 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

In the bigger picture, based on current momentum, fall from 1.4248 (2018 high) is probably resuming long term down trend from 2.1161 (2007 high). Sustained break of 1.1409 will target 61.8% projection of 1.7190 (2014 high) to 1.1409 (2020 low) from 1.4248 (2021 high) at 1.0675. This will remain the favored case for now as long as 1.2292 resistance holds.