Daily Pivots: (S1) 1.2194; (P) 1.2274; (R1) 1.2342; More….

Intraday bias in GBP/USD remains neutral for the moment. Further rise is mildly in favor as long as 1.2155 minor support holds. On the upside, above 1.2363 will turn bias to the upside for 1.2647 resistance. Break there will resume the rebound from 1.1409 to 61.8% projection of 1.1409 to 1.2647 from 1.2065 at 1.2830 next. On the downside, however, below 1.2155 minor support will turn bias back to the downside for 1.2065 instead.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2227; (P) 1.2295; (R1) 1.2406; More….

GBP/USD’s rebound lost momentum after hitting 1.2363 and intraday bias is turned neutral first. Further rise is mildly in favor as long as 1.2155 minor support holds. On the upside, above 1.2363 will turn bias to the upside for 1.2647 resistance. Break there will resume the rebound from 1.1409 to 61.8% projection of 1.1409 to 1.2647 from 1.2065 at 1.2830 next. On the downside, however, below 1.2155 minor support will turn bias back to the downside for 1.2065 instead.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2227; (P) 1.2295; (R1) 1.2406; More….

Intraday bias in GBP/USD remains mildly on the upside this point. Current development suggests that corrective pattern from 1.2647 might have completed and rise from 1.1409 might be resuming. Further rise could be seen to 1.2647 resistance. Break will confirm and target 61.8% projection of 1.1409 to 1.2647 from 1.2065 at 1.2830 next. On the downside, below 1.2155 minor support will turn bias back to the downside for 1.2065 instead.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2165; (P) 1.2184; (R1) 1.2205; More….

GBP/USD’s break of 1.2296 minor resistance suggests resumption of rebound from 1.2065. More importantly, corrective pattern from 1.2647 might have completed and rise from 1.1409 might be resuming. Intraday bias is back on the upside for 1.2647 resistance. Break will confirm and target 61.8% projection of 1.1409 to 1.2647 from 1.2065 at 1.2830 next. On the downside, below 1.2155 minor support will turn bias back to the downside for 1.2065 instead.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2165; (P) 1.2184; (R1) 1.2205; More….

Intraday bias in GBP/USD remains neutral despite current recovery. Focus is back on 1.2296 resistance. Firm break there should come with sustained trading above 4 hour 55 EMA. That would indicate completion of the choppy fall from 1.2642, and argue that rebound from 1.1409 is not completed. Intraday bias will be turned back to 1.2647 resistance. However, as long as 1.2296 resistance holds, another fall will remain mildly in favor. Break of 1.2065 will target a test on 1.1409 low.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2142; (P) 1.2188; (R1) 1.2214; More….

GBP/USD is staying in consolidation above 1.2065 and intraday bias remains neutral. Outlook remains bearish as long as 1.2467 resistance holds. Rebound form 1.1409 should have completed. On the downside, break of 1.2065 will pave the way to retest 1.1409 low. Nevertheless, on the upside, break of 1.2467 will turn bias to the upside for 1.2647 resistance.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2142; (P) 1.2188; (R1) 1.2214; More….

Intraday bias in GBP/USD stays neutral first and some more consolidative trading could be seen. But outlook stays bearish as long as 1.2467 resistance holds. Rebound form 1.1409 should have completed. On the downside, break of 1.2065 will pave the way to retest 1.1409 low. Nevertheless, on the upside, break of 1.2467 will turn bias to the upside for 1.2647 resistance.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

GBP/USD edged lower to 1.2065 last week but recovered since then. Initial bias stays neutral this week first and some more consolidative trading could be seen. But outlook stays bearish as long as 1.2467 resistance holds. Rebound form 1.1409 should have completed. On the downside, break of 1.2065 will pave the way to retest 1.1409 low. Nevertheless, on the upside, break of 1.2467 will turn bias to the upside for 1.2647 resistance.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

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). Rejection by 55 month EMA also affirmed bearishness. Break of 1.1946 will target 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273.

Daily Pivots: (S1) 1.2190; (P) 1.2220; (R1) 1.2254; More….

Intraday bias in GBP/USD remains neutral at this point. Near term outlook stays bearish as long as 1.2467 resistance holds and further decline is in favor. We’ll holding on to the view that corrective rise from 1.1409 should have completed. On the downside, below 1.2065 will target a test on 1.1409 low. However, on the upside, break of 1.2467 will turn bias to the upside for 1.2647 resistance.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2190; (P) 1.2220; (R1) 1.2254; More….

GBP/USD is staying in consolidation from 1.2065 and intraday bias remains neutral. Near term outlook stays bearish as long as 1.2467 resistance holds and further decline is in favor. We’ll holding on to the view that corrective rise from 1.1409 should have completed. On the downside, below 1.2065 will target a test on 1.1409 low. However, on the upside, break of 1.2467 will turn bias to the upside for 1.2647 resistance.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2209; (P) 1.2248; (R1) 1.2276; More….

Intraday bias in GBP/USD remains neutral first. Near term outlook stays bearish as long as 1.2467 resistance holds and further decline is in favor. We’ll holding on to the view that corrective rise from 1.1409 should have completed. On the downside, below 1.2065 will target a test on 1.1409 low. However, on the upside, break of 1.2467 will turn bias to the upside for 1.2647 resistance.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2209; (P) 1.2248; (R1) 1.2276; More….

GBP/USD weakens mildly after failing to sustain above 4 hour 55 EMA. But it’s staying above 1.2065 temporary low. Intraday bias remains neutral first. Near term outlook stays bearish as long as 1.2467 resistance holds and further decline is in favor. We’ll holding on to the view that corrective rise from 1.1409 should have completed. On the downside, below 1.2065 will target a test on 1.1409 low. However, on the upside, break of 1.2467 will turn bias to the upside for 1.2647 resistance.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2191; (P) 1.2243; (R1) 1.2303; More….

GBP/USD continues to struggle around 4 hour 55 EMA and intraday bias remains neutral first. Recovery from 1.2065 might extend higher. But as long as 1.2467 resistance holds, another fall is mildly in favor. We’ll holding on to the view that corrective rise from 1.1409 should have completed. On the downside, below 1.2065 will target a test on 1.1409 low. However, on the upside, break of 1.2467 will turn bias to the upside for 1.2647 resistance.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2191; (P) 1.2243; (R1) 1.2303; More….

Intraday bias in GBP/USD stays neutral first. Recovery from 1.2065 might extend higher. But as long as 1.2467 resistance holds, another fall is mildly in favor. We’ll holding on to the view that corrective rise from 1.1409 should have completed. On the downside, below 1.2065 will target a test on 1.1409 low. However, on the upside, break of 1.2467 will turn bias to the upside for 1.2647 resistance.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2058; (P) 1.2148; (R1) 1.2194; More….

Intraday bias in GBP/USD remains neutral for the moment. Recovery from 1.2065 might extend higher. But as long as 1.2467 resistance holds, another fall is mildly in favor. We’ll holding on to the view that corrective rise from 1.1409 should have completed. On the downside, below 1.2065 will target a test on 1.1409 low. However, on the upside, break of 1.2467 will turn bias to the upside for 1.2647 resistance.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2058; (P) 1.2148; (R1) 1.2194; More….

GBP/USD’s recovery from 1.2065 continues today and is now pressing 4 hour 55 EMA . Though, as it’s staying below 1.2467 minor resistance, intraday bias remains neutral first. We’ll holding on to the view that corrective rise from 1.1409 should have completed. On the downside, below 1.2065 will target a test on 1.1409 low. However, on the upside, break of 1.2467 will turn bias to the upside for 1.2647 resistance.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2058; (P) 1.2148; (R1) 1.2194; More….

A temporary low is formed at 1.2065 with today’s recovery and intraday bias is turned neutral first. Some consolidations would be seen but recovery should be limited below 1.2467 resistance to bring another decline. Corrective rise from 1.1409 should have completed. On the downside, below 1.2065 will target a test on 1.1409 low. However, on the upside, break of 1.2467 will turn bias to the upside for 1.2647 resistance.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2058; (P) 1.2148; (R1) 1.2194; More….

Intraday bias in GBP/USD remains on the downside at this point. Corrective rise from 1.1409 should have completed. Deeper fall should be seen back to retest this low next. On the upside, above 1.2238 minor resistance will turn intraday bias neutral first. But risk will stay on the down side for another decline.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

GBP/USD’s break of 1.2247 support last week completed a double top pattern (1.2647, 1.2643). The development suggests that whole corrective rise from 1.1409 has already finished. Initial bias stays on the downside this week for retesting 1.1409 low. On the upside, above 1.2238 minor resistance will turn intraday bias neutral first. But risk will stay on the down side for another decline.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.

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). Rejection by 55 month EMA also affirmed bearishness. Break of 1.1946 will target 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273.

Daily Pivots: (S1) 1.2184; (P) 1.2213; (R1) 1.2260; More….

GBP/USD’s decline is still in progress and intraday bias remains on the downside. Corrective rebound from 1.1409 should have completed. Deeper fall would be seen to retest 1.1409 low. On the upside, above 1.2266 minor resistance will turn intraday bias neutral first.

In the bigger picture, while the rebound from 1.1409 is strong, there is no indication of trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. Next medium term target will be 61.8% projection of 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.