Daily Pivots: (S1) 1.2514; (P) 1.2551; (R1) 1.2592; More….

GBP/USD’s break of 1.2454 suggests resumption of fall from 1.2813. Intraday bias is back on the downside. Sustained trading below 55 day EMA (now at 1.2473) will argue that whole rebound from 1.1409 has completed. Deeper fall would be seen to 1.2065 support for confirmation. On the upside, break of 1.2587 minor resistance will turn bias back to the upside instead.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for rend 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.

Daily Pivots: (S1) 1.2514; (P) 1.2551; (R1) 1.2592; More….

Intraday bias in GBP/USD remains neutral as range trading continues. On the upside, firm break of 1.2813 will resume larger rise from 1.1409. On the downside, though, sustained break of 55 day EMA (now at 1.2473) will argue that whole rebound from 1.1409 has completed. In this case, deeper decline would be seen to 1.2065 support for confirmation.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for rend 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.

Daily Pivots: (S1) 1.2521; (P) 1.2604; (R1) 1.2655; More….

GBP/USD is staying in range of 1.2454/2813 and intraday bias remains neutral first. On the upside, firm break of 1.2813 will resume larger rise from 1.1409. On the downside, though, sustained break of 55 day EMA (now at 1.2470) will argue that whole rebound from 1.1409 has completed. In this case, deeper decline would be seen to 1.2065 support for confirmation.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for rend 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.

Daily Pivots: (S1) 1.2521; (P) 1.2604; (R1) 1.2655; More….

Intraday bias in GBP/USD is turned neutral as recovery from 1.2454 quickly lost momentum. On the upside, firm break of 1.2813 will resume larger rise from 1.1409. On the downside, though, sustained break of 55 day EMA (now at 1.2470) will argue that whole rebound from 1.1409 has completed. In this case, deeper decline would be seen to 1.2065 support for confirmation.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for rend 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.

Daily Pivots: (S1) 1.2504; (P) 1.2554; (R1) 1.2654; More….

Intraday bias in GBP/USD remains mildly on the upside at this point, for retesting 1.2813 short term top. Firm break there will resume larger rise from 1.1409. On the downside, though, sustained break of 55 day EMA will argue that whole rebound from 1.1409 has completed. In this case, deeper decline would be seen to 1.2065 support for confirmation.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for rend 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.

Daily Pivots: (S1) 1.2504; (P) 1.2554; (R1) 1.2654; More….

GBP/USD’s breach of 1.2653 minor resistance argues that pull back from 1.2813 short term top has completed at 1.2454, after drawing support from 55 day EMA. Intraday bias is back on the upside for retesting 1.2813. Firm break there will resume larger rise from 1.1409. On the downside, though, sustained break of 55 day EMA will argue that whole rebound from 1.1409 has completed. In this case, deeper decline would be seen to 1.2065 support for confirmation.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for rend 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.

Daily Pivots: (S1) 1.2464; (P) 1.2559; (R1) 1.2644; More….

GBP/USD’s fall from 1.2813 short term top is still in progress and intraday bias remains on the downside. Sustained break of 55 day EMA (now at 1.2459) will argue that whole rebound from 1.1409 has completed. In this case, deeper decline would be seen to 1.2065 support for confirmation. On the upside, above 1.2653 minor resistance will turn bias back to the upside for retesting 1.2813 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.

Daily Pivots: (S1) 1.2464; (P) 1.2559; (R1) 1.2644; More….

Intraday bias in GBP/USD remains on the downside at this point. Fall from 1.2813 short term top is in progress. Sustained break of 55 day EMA (now at 1.2459) will argue that whole rebound from 1.1409 has completed. In this case, deeper decline would be seen to 1.2065 support for confirmation. On the upside, above 1.2653 minor resistance will turn bias back to the upside for retesting 1.2813 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.

GBP/USD edged higher to 1.2813 last week but formed a short term top ahead of 61.8% projection of 1.1409 to 1.2647 from 1.2065 at 1.2830 and reversed. Initial bias is mildly on the downside this week. Sustained break of 55 day EMA (now at 1.2458) will argue that whole rebound from 1.1409 has completed. In this case, deeper decline would be seen to 1.2065 support for confirmation. On the upside, above 1.2653 minor resistance will turn bias back to the upside for retesting 1.2813 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.

Daily Pivots: (S1) 1.2539; (P) 1.2647; (R1) 1.2708; More….

Intraday bias in GBP/USD remains mildly on the downside at this point. Decline from 1.2813 would target 55 day EMA (now at 1.2460). Sustained break there will argue that whole rebound from 1.1409 has completed. In this case, deeper decline would be seen to 1.2065 support for confirmation. On the upside, firm break of 1.2813 is needed to signal rally resumption. Otherwise, risk will now stay mildly on the downside in case of recovery.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence 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.

Daily Pivots: (S1) 1.2539; (P) 1.2647; (R1) 1.2708; More….

GBP/USD’s break of 1.2618 minor support suggests short term topping at 1.2813, just ahead of 61.8% projection of 1.1409 to 1.2647 from 1.2065 at 1.2830. Intraday bias is turned to the downside for 55 day EMA (now at 1.2460). Sustained break there will argue that whole rebound from 1.1409 has completed. In this case, deeper decline would be seen to 1.2065 support for confirmation. On the upside, firm break of 1.2813 is needed to signal rally resumption. Otherwise, risk will now stay mildly on the downside in case of recovery.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence 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.

Daily Pivots: (S1) 1.2699; (P) 1.2756; (R1) 1.2805; More….

Intraday bias in GBP/USD remains neutral for the moment. On the downside, break of 1.2618 minor support will indicate short term topping at 1.2813, ahead of 61.8% projection of 1.1409 to 1.2647 from 1.2065 at 1.2830. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.2457). Sustained break there will argue that whole rebound from 1.1409 has completed. On the upside, firm break of 1.2830 will extend the rise from 1.1409 to 100% projection at 1.3303.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence 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.

Daily Pivots: (S1) 1.2699; (P) 1.2756; (R1) 1.2805; More….

Intraday bias in GBP/USD is turned neutral with the current retreat. On the upside, firm break of 61.8% projection of 1.1409 to 1.2647 from 1.2065 at 1.2830 will extend the rise from 1.1409 to 100% projection at 1.3303. On the downside, considering mild bearish divergence condition in 4 hour MACD, break of 1.2618 minor support will indicate short term topping. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.2458).

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence 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.

Daily Pivots: (S1) 1.2647; (P) 1.2701; (R1) 1.2784; More….

Intraday bias in GBP/USD remains on the upside for 61.8% projection of 1.1409 to 1.2647 from 1.2065 at 1.2830 next. Break will extend the rise from 1.1409 to 100% projection at 1.3303. On the downside, considering mild bearish divergence condition in 4 hour MACD, break of 1.2618 minor support will indicate short term topping. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.2450).

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence 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.

Daily Pivots: (S1) 1.2647; (P) 1.2701; (R1) 1.2784; More….

GBP/USD rise resumed after brief consolidation and intraday bias is back on the upside. Further rally would be seen to 61.8% projection of 1.1409 to 1.2647 from 1.2065 at 1.2830 next. Break will extend the rise from 1.1409 to 100% projection at 1.3303. ON the downside, break of 1.2500 support is needed to indicate short term topping. Otherwise, outlook will remain mildly bullish in case of retreat.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence 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.

Daily Pivots: (S1) 1.2656; (P) 1.2696; (R1) 1.2764; More….

Intraday bias in GBP/USD remains neutral for the moment. Some consolidations would be seen but downside should be contained by 1.2500 support. On the upside, break of 1.2755 will extend the rise from 1.1409 to 61.8% projection of 1.1409 to 1.2647 from 1.2065 at 1.2830 next.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence 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.

Daily Pivots: (S1) 1.2656; (P) 1.2696; (R1) 1.2764; More….

Intraday bias in GBP/USD is turned neutral as a temporary top should be in place at 1.2755. Some consolidations would be seen but downside should be contained by 1.2500 support. On the upside, break of 1.2755 will extend the rise from 1.1409 to 61.8% projection of 1.1409 to 1.2647 from 1.2065 at 1.2830 next.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence 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.

Daily Pivots: (S1) 1.2590; (P) 1.2661; (R1) 1.2738; More….

No change in GBP/USD’s outlook and intraday bias remains on the upside at this point. Current rise from 1.1409 is in progress for 61.8% projection of 1.1409 to 1.2647 from 1.2065 at 1.2830 next. Sustained break there will target 100% projection at 1.3303. On the downside, below 1.2500 minor support will turn intraday bias neutral first.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence 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.

Daily Pivots: (S1) 1.2590; (P) 1.2661; (R1) 1.2738; More….

Intraday bias in GBP/USD remains on the upside for the moment. Current rise from 1.1409 is in progress for 61.8% projection of 1.1409 to 1.2647 from 1.2065 at 1.2830 next. Sustained break there will target 100% projection at 1.3303. On the downside, below 1.2500 minor support will turn intraday bias neutral first.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence 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.

GBP/USD’s rise from 1.1409 resumed last week and hit as high as 1.2731. Initial bias remains on the upside this week. Next target is 61.8% projection of 1.1409 to 1.2647 from 1.2065 at 1.2830 next. Sustained break there will target 100% projection at 1.3303. On the downside, below 1.2500 minor support will turn intraday bias neutral first.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence 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.