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.

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

Intraday bias in GBP/USD remains on the downside for the moment. Corrective rebound from 1.1409 should have completed. Deeper fall would be seen to retest 1.1409 low. On the upside, though, break of 1.2467 resistance will turn bias back to the upside for 1.2647 resistance 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) 1.2185; (P) 1.2262; (R1) 1.2314; More….

Intraday bias in GBP/USD remains on the downside at this point. With a double top pattern completed (1.2647, 1.2645), corrective rebound from 1.1409 should have completed. Deeper fall would be seen to retest 1.1409 low. On the upside, though, break of 1.2467 resistance will turn bias back to the upside for 1.2647 resistance 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) 1.2185; (P) 1.2262; (R1) 1.2314; More….

GBP/USD’s break of 1.2247 support completes a double top pattern (1.2647, 1.2645) . Corrective rebound form 1.1409 should have completed. Intraday bias is back on the downside for retesting 1.1409 low. On the upside, though, break of 1.2467 resistance will turn bias back to the upside for 1.2647 resistance 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) 1.2216; (P) 1.2297; (R1) 1.2337; More….

Focus remains on 1.2247 support in GBP/USD. Firm break there will complete a double top (1.2647, 1.2645) pattern. That would suggest completion of corrective rebound from 1.1409. Intraday bias will be turned back to the downside for retesting this low. On the upside, break of 1.2647 will resume the rebound from 1.1409 to 1.3200 resistance next.

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) 1.2216; (P) 1.2297; (R1) 1.2337; More….

With today’s decline, GBP/USD’s focus is back on 1.2247 support. Break there will complete a double top (1.2647, 1.2645). That would suggest completion of corrective rebound from 1.1409. Intraday bias will be turned back to the downside for retesting this low. On the upside, break of 1.2647 will resume the rebound from 1.1409 to 1.3200 resistance next.

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) 1.2268; (P) 1.2353; (R1) 1.2423; More….

GBP/USD is still bounded in range of 1.2247/2647. Intraday bias remains neutral first. On the downside, sustained break of 1.2247 support will suggest completion of whole rebound from 1.1409. Intraday bias will be turned back to the downside for retesting this low. On the upside, break of 1.2647 will resume the rebound from 1.1409 to 1.3200 resistance next.

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.