Daily Pivots: (S1) 1.2885; (P) 1.2949; (R1) 1.3023; More….

GBP/USD continues to lose upside moment as seen in 4 hour MACD. But with 1.2749 minor support intact, intraday bias stays on the upside. Current rise from 1.1958 should target 161.8% projection of 1.1958 to 1.2582 from 1.2195 at 1.3205 next. On the downside, below 1.2749 minor support will turn intraday bias neutral and bring consolidations, before staging another rise.

In the bigger picture, current development affirms the case of medium term bottoming at 1.1958, ahead of 1.1946 (2016 low). At this point, rise from 1.1958 is seen as the third leg of consolidation from 1.1946. Further rise would be seen back towards 1.4376 resistance. For now, this will remain the favored case as long as 1.2195 support holds.

Daily Pivots: (S1) 1.2887; (P) 1.2933; (R1) 1.3027; More….

GBP/USD’s rise resumes after brief consolidations. Intraday bias is back on the upside. Current rise from 1.1958 should target 161.8% projection of 1.1958 to 1.2582 from 1.2195 at 1.3205 next. On the downside, below 1.2749 minor support will turn intraday bias neutral and bring consolidations, before staging another rise.

In the bigger picture, current development affirms the case of medium term bottoming at 1.1958, ahead of 1.1946 (2016 low). At this point, rise from 1.1958 is seen as the third leg of consolidation from 1.1946. Further rise would be seen back towards 1.4376 resistance. For now, this will remain the favored case as long as 1.2195 support holds.

Daily Pivots: (S1) 1.2887; (P) 1.2933; (R1) 1.3027; More….

Intraday bias in GBP/USD remains neutral for consolidation below 1.2989 temporary top. In case of retreat, downside should be contained by 1.2582 resistance turned support to bring rise resumption. On the upside, break of 1.2989 will extend the rally from 1.1958 to 161.8% projection of 1.1958 to 1.2582 from 1.2195 at 1.3205 next.

In the bigger picture, current development affirms the case of medium term bottoming at 1.1958, ahead of 1.1946 (2016 low). At this point, rise from 1.1958 is seen as the third leg of consolidation from 1.1946. Further rise would be seen back towards 1.4376 resistance. For now, this will remain the favored case as long as 1.2195 support holds.

GBP/USD’s rally extended to as high as 1.2989 last week, before forming a temporary top there. Initial bias is neutral this week for some consolidations first. In case of retreat, downside should be contained by 1.2582 resistance turned support to bring rise resumption. On the upside, break of 1.2989 will extend the rally from 1.1958 to 161.8% projection of 1.1958 to 1.2582 from 1.2195 at 1.3205 next.

In the bigger picture, current development affirms the case of medium term bottoming at 1.1958, ahead of 1.1946 (2016 low). At this point, rise from 1.1958 is seen as the third leg of consolidation from 1.1946. Further rise would be seen back towards 1.4376 resistance. For now, this will remain the favored case as long as 1.2195 support holds.

In the longer term picture, at this point, price actions from 1.1946 are seen developing into a corrective pattern. That is, down trend from 2.1161 (2007 high) is still expected to resume later. But sustained break of 1.4376 resistance will now be a strong signal of long term reversal.

Daily Pivots: (S1) 1.2765; (P) 1.2877; (R1) 1.3005; More….

A temporary top is formed at 1.2989 and intraday bias in GBP/USD is turned neutral. Some consolidations could be seen. But pull back should be contained above 1.2582 resistance turned support to bring rise resumption. On the upside, break of 1.2989 will extend the rally from 1.1958 to 161.8% projection of 1.1958 to 1.2582 from 1.2195 at 1.3205 next.

In the bigger picture, current development affirms the case of medium term bottoming at 1.1958, ahead of 1.1946 (2016 low). At this point, rise from 1.1958 is seen as the third leg of consolidation from 1.1946. Further rise would be seen back towards 1.4376 resistance. For now, this will remain the favored case as long as 1.2195 support holds.

Daily Pivots: (S1) 1.2765; (P) 1.2877; (R1) 1.3005; More….

Intraday bias in GBP/USD remains on the upside at this point. Current rise from 1.1958 should target 161.8% projection of 1.1958 to 1.2582 from 1.2195 at 1.3205 next. On the downside, below 1.2516 minor support will turn intraday bias neutral again. But retreat should be contained well above 1.2195 support for another rally.

In the bigger picture, current development affirms the case of medium term bottoming at 1.1958, ahead of 1.1946 (2016 low). At this point, rise from 1.1958 is seen as the third leg of consolidation from 1.1946. Further rise would be seen back towards 1.4376 resistance. For now, this will remain the favored case as long as 1.2195 support holds.

Daily Pivots: (S1) 1.2701; (P) 1.2786; (R1) 1.2913; More….

GBP/USD spiked higher to 1.2989 earlier today but quickly retreated. Nevertheless, as long as 1.2655 minor support holds, intraday bias remains on the upside. Current rise from 1.1958 should target 161.8% projection of 1.1958 to 1.2582 from 1.2195 at 1.3205 next. On the downside, below 1.2516 minor support will turn intraday bias neutral again. But retreat should be contained well above 1.2195 support for another rally.

In the bigger picture, current development affirms the case of medium term bottoming at 1.1958, ahead of 1.1946 (2016 low). At this point, rise from 1.1958 is seen as the third leg of consolidation from 1.1946. Further rise would be seen back towards 1.4376 resistance. For now, this will remain the favored case as long as 1.2195 support holds.

Daily Pivots: (S1) 1.2701; (P) 1.2786; (R1) 1.2913; More….

Intraday bias in GBP/USD remains on the upside for the moment. Current rise from 1.1958 should target 161.8% projection of 1.1958 to 1.2582 from 1.2195 at 1.3205 next. On the downside, below 1.2516 minor support will turn intraday bias neutral again. But retreat should be contained well above 1.2195 support for another rally.

In the bigger picture, current development affirms the case of medium term bottoming at 1.1958, ahead of 1.1946 (2016 low). At this point, rise from 1.1958 is seen as the third leg of consolidation from 1.1946. Further rise would be seen back towards 1.4376 resistance. For now, this will remain the favored case as long as 1.2195 support holds.

Daily Pivots: (S1) 1.2659; (P) 1.2729; (R1) 1.2856; More….

Intraday bias in GBP/USD remains on the upside at this point. Firm break of 100% projection of 1.1958 to 1.2582 from 1.2195 at 1.2819 will pave the way to 161.8% projection at 1.3205 next. On the downside, below 1.2516 minor support will turn intraday bias neutral again. But retreat should be contained well above 1.2195 support for another rally.

In the bigger picture, current development affirms the case of medium term bottoming at 1.1958, ahead of 1.1946 (2016 low). At this point, rise from 1.1958 is seen as the third leg of consolidation from 1.1946. Further rise would be seen back towards 1.4376 resistance. For now, this will remain the favored case as long as 1.2195 support holds.

Daily Pivots: (S1) 1.2659; (P) 1.2729; (R1) 1.2856; More….

Intraday bias in GBP/USD remains on the upside for the moment. Rise from 1.1958 is targeting 100% projection of 1.1958 to 1.2582 from 1.2195 at 1.2819. Break will target 161.8% projection at 1.3205 next. On the downside, below 1.2516 minor support will turn intraday bias neutral again. But retreat should be contained well above 1.2195 support for another rally.

In the bigger picture, current development affirms the case of medium term bottoming at 1.1958, ahead of 1.1946 (2016 low). At this point, rise from 1.1958 is seen as the third leg of consolidation from 1.1946. Further rise would be seen back towards 1.4376 resistance. For now, this will remain the favored case as long as 1.2195 support holds.

Daily Pivots: (S1) 1.2527; (P) 1.2589; (R1) 1.2661; More….

The strong break of 1.2707 temporary top suggests resumption of recent rise from 1.1958. Intraday bias in GBP/USD is back on the upside for 100% projection of 1.1958 to 1.2582 from 1.2195 at 1.2819. Break will target 161.8% projection at 1.3205. On the downside, below 1.2516 minor support will turn intraday bias neutral again. But retreat should be contained well above 1.2195 support for another rally.

In the bigger picture, current development affirms the case of medium term bottoming at 1.1958, ahead of 1.1946 (2016 low). At this point, rise from 1.1958 is seen as the third leg of consolidation from 1.1946. Further rise would be seen back towards 1.4376 resistance. For now, this will remain the favored case as long as 1.2195 support holds.

Daily Pivots: (S1) 1.2527; (P) 1.2589; (R1) 1.2661; More….

GBP/USD is staying in consolidation from 1.2707 temporary top and intraday bias remains neutral. Another retreat cannot be ruled out. But downside should be contained well above 1.2195 support to bring another rally. On the upside, break of 1.2707 will resume the rise from 1.1958 low to 100% projection of 1.1958 to 1.2582 from 1.2195 at 1.2819. Break will target 161.8% projection at 1.3205.

In the bigger picture, current development affirms the case of medium term bottoming at 1.1958, ahead of 1.1946 (2016 low). At this point, rise from 1.1958 is seen as the third leg of consolidation from 1.1946. Further rise would be seen back towards 1.4376 resistance. For now, this will remain the favored case as long as 1.2195 support holds.

Daily Pivots: (S1) 1.2527; (P) 1.2589; (R1) 1.2661; More….

Intraday bias in GBP/USD remains neutral for consolidation below 1.2707 temporary top. Downside of retreat should be contained well above 1.2195 support to bring another rally. On the upside, break of 1.2707 will resume the rise from 1.1958 low to 100% projection of 1.1958 to 1.2582 from 1.2195 at 1.2819. Break will target 161.8% projection at 1.3205.

In the bigger picture, current development affirms the case of medium term bottoming at 1.1958, ahead of 1.1946 (2016 low). At this point, rise from 1.1958 is seen as the third leg of consolidation from 1.1946. Further rise would be seen back towards 1.4376 resistance. For now, this will remain the favored case as long as 1.2195 support holds.

Daily Pivots: (S1) 1.2481; (P) 1.2593; (R1) 1.2763; More….

A temporary top is formed a 1.2707 in GBP/USD with today’s retreat. Intraday bias is turned neutral for some consolidations. But downside of retreat should be contained well above 1.2195 support to bring another rally. on the upside, above 1.2707 will target 100% projection of 1.1958 to 1.2582 from 1.2195 at 1.2819. Break will target 161.8% projection at 1.3205.

In the bigger picture, current development affirms the case of medium term bottoming at 1.1958, ahead of 1.1946 (2016 low). At this point, rise from 1.1958 is seen as the third leg of consolidation from 1.1946. Further rise would be seen back towards 1.4376 resistance. For now, this will remain the favored case as long as 1.2195 support holds.

Daily Pivots: (S1) 1.2481; (P) 1.2593; (R1) 1.2763; More….

Intraday bias in GBP/USD remains on the upside at this point. Rise from 1.1958 is in progress for 100% projection of 1.1958 to 1.2582 from 1.2195 at 1.2819. Break will target 161.8% projection at 1.3205. On the downside, below 1.2556 minor support will turn intraday bias neutral first. Some consolidations would then be seen before another rally.

In the bigger picture, current development affirms the case of medium term bottoming at 1.1958, ahead of 1.1946 (2016 low). At this point, rise from 1.1958 is seen as the third leg of consolidation from 1.1946. Further rise would be seen back towards 1.4376 resistance. For now, this will remain the favored case as long as 1.2195 support holds.

GBP/USD surged to as high as 1.2707 last week as rise from 1.1958 resumed. The development further affirmed the case of medium term bottoming at 1.1958. Initial bias stays on the upside this week for 100% projection of 1.1958 to 1.2582 from 1.2195 at 1.2819. Break will target 161.8% projection at 1.3205. On the downside, below 1.2556 minor support will turn intraday bias neutral first.

In the bigger picture, current development affirms the case of medium term bottoming at 1.1958, ahead of 1.1946 (2016 low). At this point, rise from 1.1958 is seen as the third leg of consolidation from 1.1946. Further rise would be seen back towards 1.4376 resistance. For now, this will remain the favored case as long as 1.2195 support holds.

In the longer term picture, at this point, price actions from 1.1946 are seen developing into a corrective pattern. That is, down trend from 2.1161 (2007 high) is still expected to resume later. But sustained break of 1.4376 resistance will now be a strong signal of long term reversal.

Daily Pivots: (S1) 1.2274; (P) 1.2372; (R1) 1.2538; More….

GBP/USD surges to as high as 1.2684 and strong break of 1.2582 resistance confirms resumption of rebound from 1.1958 low. Intraday bias stays on the upside for 100% projection of 1.1958 to 1.2582 from 1.2195 at 1.2819. Break will target 161.8% projection at 1.3205. On the downside, below 1.2469 minor will turn intraday bias neutral first.

In the bigger picture, we’d remain cautious on medium term bottoming around 1.1946 (2016 low). Sustained trading above 55 week EMA (now at 1.2727) will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance. Nevertheless, decisive break of 1.1946 will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.

Daily Pivots: (S1) 1.2274; (P) 1.2372; (R1) 1.2538; More….

GBP/USD’s strong rebound and break of 1.2413 resistance suggests pull back from 1.2582 has completed at 1.2195 already. Intraday bias is back on the upside for 1.2582 resistance. Break will resume the whole rise from 1.1958 and target 100% projection of 1.1958 to 1.2582 from 1.2195 at 1.2819. For now, further rise is in favor as long as 1.2195 support holds, in case of retreat.

In the bigger picture, we’d remain cautious on medium term bottoming around 1.1946 (2016 low). Sustained trading above 55 week EMA (now at 1.2727) will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance. Nevertheless, decisive break of 1.1946 will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.

Daily Pivots: (S1) 1.2171; (P) 1.2231; (R1) 1.2264; More….

Intraday bias in GBP/USD remains neutral first. But further decline is expected as long as 1.2413 resistance holds. Corrective rebound from 1.1958 should have completed at 1.2582. Fall from 1.2582 should extend lower to retest 1.1946/58 key support zone. On the upside, though, above 1.2413 will bring another rebound to 1.2582 resistance and above.

In the bigger picture, we’d remain cautious on medium term bottoming around 1.1946 (2016 low). Sustained trading above 55 week EMA (now at 1.2727) will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance. Nevertheless, decisive break of 1.1946 will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.

Daily Pivots: (S1) 1.2171; (P) 1.2231; (R1) 1.2264; More….

Intraday bias in GBP/USD is turned neutral with 4 hour MACD crossed above signal line. But further decline is expected. Corrective rebound from 1.1958 should have completed at 1.2582. Fall from 1.2582 should extend lower to retest 1.1946/58 key support zone. On the upside, though, above 1.2413 will bring another rebound to 1.2582 resistance instead.

In the bigger picture, we’d remain cautious on medium term bottoming around 1.1946 (2016 low). Sustained trading above 55 week EMA (now at 1.2727) will extend the consolidation pattern from 1.1946 with another rise to 1.4376 resistance. Nevertheless, decisive break of 1.1946 will resume down trend from 2.1161 (2007 high) to 61.8% projection of 1.7190 to 1.1946 from 1.4376 at 1.1135.