Daily Pivots: (S1) 1.2709; (P) 1.2738; (R1) 1.2768; More….

Intraday bias in GBP/USD remains mildly on the upside. Rebound from 1.2506 short term bottom could extend higher. But upside should be limited by 38.2% retracement of 1.3381 to 1.2506 at 1.2840 to limit upside. On the downside, break of 1.2642 minor support will turn intraday bias back to retest 1.2506 low. However, sustained break of 1.2840 will bring stronger rise to 61.8% retracement at 1.3047 next.

In the bigger picture, down trend from 1.4376 (2018 high) is still in progress. Break of 1.2391 would target a test on 1.1946 long term bottom (2016 low). For now, we don’t expect a firm break there yet. Hence, focus will be on bottoming signal as it approaches 1.1946. In any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2677; (P) 1.2712; (R1) 1.2783; More….

At this point, GBP/USD’s recovery from 1.2506 short term bottom could extend higher. But upside should be limited by 38.2% retracement of 1.3381 to 1.2506 at 1.2840 to limit upside. On the downside break of 1.2642 minor support will turn intraday bias back to retest 1.2506 low. However, sustained break of 1.2840 will bring stronger rise to 61.8% retracement at 1.3047 next.

In the bigger picture, down trend from 1.4376 (2018 high) is still in progress. Break of 1.2391 would target a test on 1.1946 long term bottom (2016 low). For now, we don’t expect a firm break there yet. Hence, focus will be on bottoming signal as it approaches 1.1946. In any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2677; (P) 1.2712; (R1) 1.2783; More….

Intraday bias in GBP/USD remains on the upside for the moment. Rebound from 1.2506 short term bottom would extend to 55 day EMA (now at 1.2800). We’d expect strong resistance from 38.2% retracement of 1.3381 to 1.2506 at 1.2840 to limit upside. On the downside break of 1.2642 minor support will turn intraday bias back to retest 1.2506 low. However, sustained break of 1.2840 will bring stronger rise to 61.8% retracement at 1.3047 next.

In the bigger picture, down trend from 1.4376 (2018 high) is still in progress. Break of 1.2391 would target a test on 1.1946 long term bottom (2016 low). For now, we don’t expect a firm break there yet. Hence, focus will be on bottoming signal as it approaches 1.1946. In any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

GBP/USD edged lower to 1.2506 last week but formed a short term bottom there and rebounded. Initial bias remains on the upside this week for 55 day EMA (now at 1.2802). We’d expect strong resistance from 38.2% retracement of 1.3381 to 1.2506 at 1.2840 to limit upside. On the downside break of 1.2642 minor support will turn intraday bias back to retest 1.2506 low. However, sustained break of 1.2840 will bring stronger rise to 61.8% retracement at 1.3047 next.

In the bigger picture, down trend from 1.4376 (2018 high) is still in progress. Break of 1.2391 would target a test on 1.1946 long term bottom (2016 low). For now, we don’t expect a firm break there yet. Hence, focus will be on bottoming signal as it approaches 1.1946. In any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

In the longer term picture, consolidative pattern from 1.1946 (2016 low) could still extend with another rising leg. But after all, decisive break of 38.2% retracement of 2.1161 (2007 high) to 1.1946 at 1.5466 is needed to indicate long term reversal. Otherwise, an eventual downside breakout will remain in favor.

Daily Pivots: (S1) 1.2647; (P) 1.2689; (R1) 1.2745; More….

With 1.2626 minor support intact, rebound from 1.2506 is still mildly in favor to extend to 55 day EMA (now at 1.2801). Nevertheless, we’d expect strong resistance from 38.2% retracement of 1.3381 to 1.2506 at 1.2840 to bring fall resumption. On the downside, below 1.2626 minor support will turn intraday bias back to the downside for 1.2506 first. However, sustained break of 1.2840 will bring stronger rise to 61.8% retracement at 1.3047 next.

In the bigger picture, medium term decline from 1.4376 (2018 high) is possibly ready to resume. Decisive break of 1.2391 would target a test on 1.1946 long term bottom (2016 low). For now, we don’t expect a firm break there yet. Hence, focus will be on bottoming signal as it approaches 1.1946. In any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2647; (P) 1.2689; (R1) 1.2745; More….

NO change in GBP/USD’s outlook. Intraday bias remains mildly on the upside. Rebound from 1.2506 short term bottom would target 55 day EMA (now at 1.2801). For now, we’d expect strong resistance from 38.2% retracement of 1.3381 to 1.2506 at 1.2840 to bring fall resumption. On the downside, below 1.2626 minor support will turn intraday bias back to the downside for 1.2506 first. Nevertheless, sustained break of 1.2840 will bring stronger rise to 61.8% retracement at 1.3047 next.

In the bigger picture, medium term decline from 1.4376 (2018 high) is possibly ready to resume. Decisive break of 1.2391 would target a test on 1.1946 long term bottom (2016 low). For now, we don’t expect a firm break there yet. Hence, focus will be on bottoming signal as it approaches 1.1946. In any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2561; (P) 1.2617; (R1) 1.2701; More….

Intraday bias in GBP/USD remains on the upside for the moment. Rebound from 1.2506 short term bottom would target 55 day EMA (now at 1.2808). For now, we’d expect strong resistance from 38.2% retracement of 1.3381 to 1.2506 at 1.2840 to bring fall resumption. On the downside, below 1.2626 minor support will turn intraday bias back to the downside for 1.2506 first. Nevertheless, sustained break of 1.2850 will bring stronger rise to 61.8% retracement at 1.3047 next.

In the bigger picture, medium term decline from 1.4376 (2018 high) is possibly ready to resume. Decisive break of 1.2391 would target a test on 1.1946 long term bottom (2016 low). For now, we don’t expect a firm break there yet. Hence, focus will be on bottoming signal as it approaches 1.1946. In any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2561; (P) 1.2617; (R1) 1.2701; More….

GBP/USD’s strong rebound suggests short term bottoming at 1.2506, on bullish convergence condition in 4 hour MACD. Intraday bias is now on the upside for further rise, through 1.2763 resistance to 55 day EMA (now at 1.2808). For now, we’d expect strong resistance from 38.2% retracement of 1.3381 to 1.2506 at 1.2840 to bring fall resumption. On the downside, below 1.2626 minor support will turn intraday bias back to the downside for 1.2506 first. Nevertheless, sustained break of 1.2850 will bring stronger rise to 61.8% retracement at 1.3047 next.

In the bigger picture, medium term decline from 1.4376 (2018 high) is possibly ready to resume. Decisive break of 1.2391 would target a test on 1.1946 long term bottom (2016 low). For now, we don’t expect a firm break there yet. Hence, focus will be on bottoming signal as it approaches 1.1946. In any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2520; (P) 1.2543; (R1) 1.2580; More….

Intraday bias in GBP/USD remains neutral for consolidation above 1.2506 temporary low. Upside of recovery should be limited below 1.2763 resistance to bring fall resumption. On the downside, below 1.2506 will extend the fall from 1.3381 to 1.2391 low. Decisive break there will confirm resumption of larger down trend. Nevertheless, break of 1.2763 will indicate short term bottoming and bring stronger rebound.

In the bigger picture, medium term decline from 1.4376 (2018 high) is possibly ready to resume. Decisive break of 1.2391 would target a test on 1.1946 long term bottom (2016 low). For now, we don’t expect a firm break there yet. Hence, focus will be on bottoming signal as it approaches 1.1946. In any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2520; (P) 1.2543; (R1) 1.2580; More….

A temporary low is formed at 1.2506 in GBP/USD and intraday bias is turned neutral first. Some consolidation could be seen but recovery should be limited below 1.2763 resistance to bring fall resumption. On the downside, below 1.2506 will extend the fall from 1.3381 to 1.2391 low. Decisive break there will confirm resumption of larger down trend.

In the bigger picture, medium term decline from 1.4376 (2018 high) is possibly ready to resume. Decisive break of 1.2391 would target a test on 1.1946 long term bottom (2016 low). For now, we don’t expect a firm break there yet. Hence, focus will be on bottoming signal as it approaches 1.1946. In any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2508; (P) 1.2557; (R1) 1.2582; More….

Intraday bias in GBP/USD remains neutral for the moment. Current fall from 1.3381 is in progress for 1.2391 low. Decisive break there will confirm resumption of larger down trend. On the upside, above 1.2605 minor resistance will turn intraday bias neutral first. But recovery should be limited below 1.2763 resistance to bring fall resumption.

In the bigger picture, medium term decline from 1.4376 (2018 high) is possibly ready to resume. Decisive break of 1.2391 would target a test on 1.1946 long term bottom (2016 low). For now, we don’t expect a firm break there yet. Hence, focus will be on bottoming signal as it approaches 1.1946. In any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2508; (P) 1.2557; (R1) 1.2582; More….

GBP/USD drops to as low as 1.2511 and break of 1.2559 confirms resumption of fall from 1.3381. Intraday bias stays on the downside for 1.2391 low. Decisive break there will confirm resumption of larger down trend. On the upside, above 1.2605 minor resistance will turn intraday bias neutral first. But recovery should be limited below 1.2763 resistance to bring fall resumption.

In the bigger picture, medium term decline from 1.4376 (2018 high) is possibly ready to resume. Decisive break of 1.2391 would target a test on 1.1946 long term bottom (2016 low). For now, we don’t expect a firm break there yet. Hence, focus will be on bottoming signal as it approaches 1.1946. In any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2551; (P) 1.2619; (R1) 1.2660; More….

Intraday bias in GBP/USD remains on the downside at this point. Break of 1.2559 support should confirm resumption of whole fall from 1.3381 and target 1.2391 low next. On the upside, above 1.2653 minor resistance will delay the bearish case and bring more consolidations first. But in case of another recovery, upside should be limited by by 1.2865 support turned resistance to bring fall resumption eventually.

In the bigger picture, medium term decline from 1.4376 (2018 high) is possibly ready to resume. Decisive break of 1.2391 would target a test on 1.1946 long term bottom (2016 low). For now, we don’t expect a firm break there yet. Hence, focus will be on bottoming signal as it approaches 1.1946. In any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2551; (P) 1.2619; (R1) 1.2660; More….

Intraday bias in GBP/USD remains on the downside for 1.2559 support. Break there should confirm resumption of whole fall from 1.3381 and target 1.2391 low next. On the upside, above 1.2653 minor resistance will delay the bearish case and bring more consolidations first. But in case of another recovery, upside should be limited by by 1.2865 support turned resistance to bring fall resumption eventually.

In the bigger picture, medium term decline from 1.4376 (2018 high) is possibly ready to resume. Decisive break of 1.2391 would target a test on 1.1946 long term bottom (2016 low). For now, we don’t expect a firm break there yet. Hence, focus will be on bottoming signal as it approaches 1.1946. In any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

GBP/USD’s sharp fall argues that corrective recovery from 1.2559 has completed at 1.2763 already. Initial bias remains on the downside this week for 1.2559 first. Break will resume the whole fall from 1.3381 and target 1.2391 low next. On the upside, in case of another recovery, upside should be limited by by 1.2865 support turned resistance to bring fall resumption eventually.

In the bigger picture, medium term decline from 1.4376 (2018 high) is possibly ready to resume. Decisive break of 1.2391 would target a test on 1.1946 long term bottom (2016 low). For now, we don’t expect a firm break there yet. Hence, focus will be on bottoming signal as it approaches 1.1946. In any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

In the longer term picture, consolidative pattern from 1.1946 (2016 low) could still extend with another rising leg. But after all, decisive break of 38.2% retracement of 2.1161 (2007 high) to 1.1946 at 1.5466 is needed to indicate long term reversal. Otherwise, an eventual downside breakout will remain in favor.

Daily Pivots: (S1) 1.2654; (P) 1.2681; (R1) 1.2700; More….

Current development argues that recovery from 1.2559 has completed at 1.2763 already. Intraday bias is mildly on the downside for retesting 1.2559 first. Break will resume larger decline from 1.3381 for 1.2391 low next. On the upside, in case of another rise, upside should be limited by by 1.2865 support turned resistance to bring fall resumption eventually.

In the bigger picture, medium term decline from 1.4376 (2018 high) is possibly ready to resume. Decisive break of 1.2391 would target a test on 1.1946 long term bottom (2016 low). For now, we don’t expect a firm break there yet. Hence focus will be on bottoming signal as it approaches 1.1946. In any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2654; (P) 1.2681; (R1) 1.2700; More….

No change in GBP/USD’s outlook as consolidation from 1.2559 is extending. Another rise cannot be ruled out but upside should be limited by by 1.2865 support turned resistance to bring fall resumption eventually. On the downside, break of 1.2559 low will extend the decline from 1.3381 for 1.2391 low first.

In the bigger picture, medium term decline from 1.4376 (2018 high) is possibly ready to resume. Decisive break of 1.2391 would target a test on 1.1946 long term bottom (2016 low). For now, we don’t expect a firm break there yet. Hence focus will be on bottoming signal as it approaches 1.1946. In any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2661; (P) 1.2710; (R1) 1.2738; More….

GBP/USD is staying in consolidation from 1.2559 and intraday bias remains neutral first. On the upside, break of 1.2763 will extend the corrective rise from 1.2559. But in that case, upside should be limited by by 1.2865 support turned resistance to bring fall resumption eventually. On the downside, break of 1.2559 low will extend the decline from 1.3381 for 1.2391 low first.

In the bigger picture, medium term decline from 1.4376 (2018 high) is possibly ready to resume. Decisive break of 1.2391 would target a test on 1.1946 long term bottom (2016 low). For now, we don’t expect a firm break there yet. Hence focus will be on bottoming signal as it approaches 1.1946. In any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2661; (P) 1.2710; (R1) 1.2738; More….

Intraday bias in GBP/USD remains neutral at this point. On the upside, break of 1.2763 will extend the corrective rise from 1.2559. But in that case, upside should be limited by by 1.2865 support turned resistance to bring fall resumption eventually. On the downside, break of 1.2559 low will extend the decline from 1.3381 for 1.2391 low first.

In the bigger picture, medium term decline from 1.4376 (2018 high) is possibly ready to resume. Decisive break of 1.2391 would target a test on 1.1946 long term bottom (2016 low). For now, we don’t expect a firm break there yet. Hence focus will be on bottoming signal as it approaches 1.1946. In any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.

Daily Pivots: (S1) 1.2684; (P) 1.2709; (R1) 1.2747; More….

GBP/USD is staying below 1.2763 and intraday bias remains neutral first. On the upside, break of 1.2763 will extend the corrective rise from 1.2559. But in that case, upside should be limited by by 1.2865 support turned resistance to bring fall resumption eventually. On the downside, break of 1.2559 low will extend the decline from 1.3381 for 1.2391 low first.

In the bigger picture, medium term decline from 1.4376 (2018 high) is possibly ready to resume. Decisive break of 1.2391 would target a test on 1.1946 long term bottom (2016 low). For now, we don’t expect a firm break there yet. Hence focus will be on bottoming signal as it approaches 1.1946. In any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of strong rebound.