Daily Pivots: (S1) 1.3396; (P) 1.3436; (R1) 1.3473; More…

GBP/USD’s rise from 1.3140 resumed after brief retreat and intraday bias is back on the upside for 1.3587 resistance. Correction from 1.3787 should have completed with three waves down to 1.3140. Firm break of 1.3587 will bring retest of 1.3787 high. On the downside, below 1.3398 minor support will turn intraday bias neutral and dampen the bullish case.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3068) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3396; (P) 1.3436; (R1) 1.3473; More…

GBP/USD is staying in consolidations below 1.3476 and intraday bias remains neutral. Further is expected as long as 1.3344 minor support holds. Correction from 1.3787 should have completed with three waves down to 1.3140. Above 1.3476 will target 1.3587 resistance first. However, break of 1.3344 minor support will dampen this bullish case, and turn bias to the downside for deeper fall.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3068) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3426; (P) 1.3442; (R1) 1.3467; More…

Intraday bias in GBP/USD is turned neutral first with current retreat. Some consolidations would be seen but further rally is expected as long as 1.3344 minor support holds. Correction from 1.3787 should have completed with three waves down to 1.3140. Above 1.3476 will target 1.3587 resistance first. However, break of 1.3344 minor support will dampen this bullish case, and turn bias to the downside for deeper fall.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3068) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3426; (P) 1.3442; (R1) 1.3467; More…

Intraday bias in GBP/USD stays on the upside this point. Correction from 1.3787 should have completed with three waves down to 1.3140. Further rally should be seen to 1.3587 resistance first. Firm break there will pave the way to retest 1.3787 high. However, break of 1.3344 minor support will dampen this bullish case and turn bias neutral again first.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3055) holds, even in case of deep pullback.

GBP/USD’s extended rebound and firm break of 1.3363 support turned resistance last week suggests that correction from 1.3787 has completed with three waves down to 1.3140, after hitting 38.2% retracement of 1.2099 to 1.3787 at 1.3142. Initial bias remains on the upside for 1.3587 resistance first. Firm break there will pave the way to retest 1.3787 high. However, break of 1.3344 minor support will dampen this bullish case and turn bias neutral again first.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3055) holds, even in case of deep pullback.

In the long term picture, for now, price actions from 1.0351 (2022 low) are still seen as a corrective pattern to the long term down trend from 2.1161 (2007 high) only. However, firm break of 1.4248 resistance (38.2% retracement of 2.1161 to 1.0351 at 1.4480) will be a strong sign of long term bullish reversal.

Daily Pivots: (S1) 1.3371; (P) 1.3410; (R1) 1.3484; More…

GBP/USD’s rise from 1.3140 is in progress and intraday bias stays on the upside. As noted before, correction from 1.3787 should have completed with three waves down to 1.3140. Further rise should be seen to 1.3587 resistance. Firm break there will target 1.3787 high. On the downside, below 1.3344 minor support will turn intraday bias neutral again first.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3049) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3371; (P) 1.3410; (R1) 1.3484; More…

Intraday bias in GBP/USD remains on the upside at this point. As noted before, correction from 1.3787 should have completed with three waves down to 1.3140. Further rise should be seen to 1.3587 resistance. Firm break there will target 1.3787 high. On the downside, below 1.3344 minor support will turn intraday bias neutral again first.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3049) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3303; (P) 1.3336; (R1) 1.3389; More…

GBP/USD’s rebound from 1.3140 continues today and intraday bias stays on the upside. As noted before, correction from 1.3787 should have completed with three waves down to 1.3140. Further rise should be seen to 1.3587 resistance. Firm break there will target 1.3787 high. On the downside, below 1.3330 minor support will turn intraday bias neutral again first.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3049) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3303; (P) 1.3336; (R1) 1.3389; More…

GBP/USD’s break of 1.3363 support turned resistance suggests that correction from 1.3787 has completed with three waves down to 1.3140. Intraday bias is back on the upside for 1.3587 resistance. Firm break there will target 1.3787 high. On the downside, though, below 1.3258 will bring deeper fall back to 38.2% retracement of 1.2099 to 1.3787 at 1.3142.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3049) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3267; (P) 1.3292; (R1) 1.3324; More…

No change in GBP/USD’s outlook and intraday bias remains neutral at this point. On the upside, sustained break of 1.3363 support turned resistance will indicate that the fall has completed as a three-wave correction. Further rally should then be seen back to 1.3587 resistance next. Nevertheless, sustained trading below 38.2% retracement of 1.2099 to 1.3787 at 1.3142 will target 61.8% retracement at 1.2744.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3049) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3267; (P) 1.3292; (R1) 1.3324; More…

Range trading continues in GBP/USD and intraday bias stays neutral. On the upside, sustained break of 1.3363 support turned resistance will indicate that the fall has completed as a three-wave correction. Further rally should then be seen back to 1.3587 resistance next. Nevertheless, sustained trading below 38.2% retracement of 1.2099 to 1.3787 at 1.3142 will target 61.8% retracement at 1.2744.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3049) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3249; (P) 1.3290; (R1) 1.3326; More…

No change in GBP/USD’s outlook and intraday bias stays neutral for the moment. On the upside, sustained break of 1.3363 support turned resistance will indicate that the fall has completed as a three-wave correction. Further rally should then be seen back to 1.3587 resistance next. Nevertheless, sustained trading below 38.2% retracement of 1.2099 to 1.3787 at 1.3142 will target 61.8% retracement at 1.2744.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3049) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3249; (P) 1.3290; (R1) 1.3326; More…

Intraday bias in GBP/USD remains neutral for the moment. On the upside, sustained break of 1.3363 support turned resistance will indicate that the fall has completed as a three-wave correction. Further rally should then be seen back to 1.3587 resistance next. Nevertheless, sustained trading below 38.2% retracement of 1.2099 to 1.3787 at 1.3142 will target 61.8% retracement at 1.2744.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3049) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3177; (P) 1.3244; (R1) 1.3345; More…

No change in GBP/USD’s outlook and intraday bias stays neutral. On the upside, sustained break of 1.3363 support turned resistance will indicate that the fall has completed as a three-wave correction. Further rally should then be seen back to 1.3587 resistance next. Nevertheless, sustained trading below 38.2% retracement of 1.2099 to 1.3787 at 1.3142 will target 61.8% retracement at 1.2744.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3049) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3177; (P) 1.3244; (R1) 1.3345; More…

Intraday bias in GBP/USD remains neutral at this point. On the upside, sustained break of 1.3363 support turned resistance will indicate that the fall has completed as a three-wave correction. Further rally should then be seen back to 1.3587 resistance next. Nevertheless, sustained trading below 38.2% retracement of 1.2099 to 1.3787 at 1.3142 will target 61.8% retracement at 1.2744.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3049) holds, even in case of deep pullback.

GBP/USD’s fall from 1.3787 resumed to 1.3140 last week but rebounded after hitting 38.2% retracement of 1.2099 to 1.3787 at 1.3142. Initial bias remains neutral this week first. On the upside, sustained break of 1.3363 support turned resistance will indicate that the fall has completed as a three-wave correction. Further rally should then be seen back to 1.3587 resistance next. Nevertheless, sustained trading below 1.3142 will target 61.8% retracement at 1.2744.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3032) holds, even in case of deep pullback.

In the long term picture, for now, price actions from 1.0351 (2022 low) are still seen as a corrective pattern to the long term down trend from 2.1161 (2007 high) only. However, firm break of 1.4248 resistance (38.2% retracement of 2.1161 to 1.0351 at 1.4480) will be a strong sign of long term bullish reversal.

Daily Pivots: (S1) 1.3167; (P) 1.3225; (R1) 1.3263; More…

GBP/USD rebounded strongly after hitting 100% projection of 1.3787 to 1.3363 from 1.3587 at 1.3163. Intraday bias is turned neutral first. On the upside, sustained break of 1.3363 resistance turned support will argue that correction from 1.3787 has already completed with three waves down to 1.3140. Further rally should be seen to 1.3587 resistance next. On the downside, firm break of 1.3163 will target 161.8% projection 1.2901 next.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3045) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3167; (P) 1.3225; (R1) 1.3263; More…

Intraday bias in GBP/USD remains on the downside as fall from 1.3787 short term top is in progress for 100% projection of 1.3787 to 1.3363 from 1.3587 at 1.3163. Firm break there will target 161.8% projection 1.2901 next. On the upside, above 1.3281 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.3363 support turned resistance holds, in case of recovery.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3045) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3183; (P) 1.3284; (R1) 1.3341; More…

GBP/USD’s fall from 1.3787 accelerates lower today and intraday bias remains on the downside for 100% projection of 1.3787 to 1.3363 from 1.3587 at 1.3163. Firm break there will target 161.8% projection 1.2901 next. On the upside, above 1.3281 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.3363 support turned resistance holds, in case of recovery.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3045) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3183; (P) 1.3284; (R1) 1.3341; More…

Intraday bias in GBP/USD remains on the downside at this point. Fall from 1.3787, as a correction to rise from 1.2099, is in progress. Deeper decline should be seen to 100% projection of 1.3787 to 1.3363 from 1.3587 at 1.3163. On the upside, above 1.3385 minor resistance will turn intraday bias neutral again first.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3045) holds, even in case of deep pullback.