Daily Pivots: (S1) 1.2970; (P) 1.3025; (R1) 1.3064; More…

No change in GBP/USD’s outlook and focus remains on 1.2987 support. Decisive break there will confirm that rebound from 1.2865 has completed at 1.3176 already. More importantly, this will revive that bearish case that rebound from 1.2391 has completed at 1.3381. And intraday bias will be turned to the downside for 1.2865 support for confirming bearishness. Nevertheless, on upside, above 1.3176 will target a retest on 1.3381 high next.

In the bigger picture, medium term decline from 1.4376 (2018 high) halted and made a medium term bottom after hitting 1.2391. Rebound from 1.2391 is seen as a corrective move for now. In case of another rise, strong resistance could be seen around 61.8% retracement of 1.4376 to 1.2391 at 1.3618 to limit upside. On the downside, break of 1.2773 support will suggests that such corrective rise is completed and bring retest of 1.2391 low first.

Daily Pivots: (S1) 1.2970; (P) 1.3025; (R1) 1.3064; More…

Focus in GBP/USD remains on 1.2987 minor support. Decisive break there will confirm that rebound from 1.2865 has completed at 1.3176 already. More importantly, this will revive that bearish case that rebound from 1.2391 has completed at 1.3381. And intraday bias will be turned to the downside for 1.2865 support for confirming bearishness. Nevertheless, on upside, above 1.3176 will target a retest on 1.3381 high next.

In the bigger picture, medium term decline from 1.4376 (2018 high) halted and made a medium term bottom after hitting 1.2391. Rebound from 1.2391 is seen as a corrective move for now. In case of another rise, strong resistance could be seen around 61.8% retracement of 1.4376 to 1.2391 at 1.3618 to limit upside. On the downside, break of 1.2773 support will suggests that such corrective rise is completed and bring retest of 1.2391 low first.

Daily Pivots: (S1) 1.3032; (P) 1.3082; (R1) 1.3124; More…

GBP/USD’s fall from 1.3176 accelerates lower today and focus is now back on 1.2987 minor support. Firm break there will confirm that rebound from 1.2865 has completed at 1.3176 already. More importantly, this will revive that bearish case that rebound from 1.2391 has completed at 1.3381. And intraday bias will be turned to the downside for 1.2865 support for confirming bearishness. Nevertheless, on upside, above 1.3176 will target a retest on 1.3381 high next.

In the bigger picture, medium term decline from 1.4376 (2018 high) halted and made a medium term bottom after hitting 1.2391. Rebound from 1.2391 is seen as a corrective move for now. In case of another rise, strong resistance could be seen around 61.8% retracement of 1.4376 to 1.2391 at 1.3618 to limit upside. On the downside, break of 1.2773 support will suggests that such corrective rise is completed and bring retest of 1.2391 low first.

Daily Pivots: (S1) 1.3032; (P) 1.3082; (R1) 1.3124; More…

Intraday bias in GBP/USD remains neutral for the moment. Also, with 1.2987 minor support intact, further rise is mildly in favor. As noted before, corrective decline from 1.3381 should have completed at 1.2865 already. On the upside, above 1.3176 will target a retest on 1.3381 high next. On the downside, below 1.2987 minor support will dampen this bullish view and turn bias back to the downside for 1.2865 support instead.

In the bigger picture, medium term decline from 1.4376 (2018 high) halted and made a medium term bottom after hitting 1.2391. Rebound from 1.2391 is seen as a corrective move for now. In case of another rise, strong resistance could be seen around 61.8% retracement of 1.4376 to 1.2391 at 1.3618 to limit upside. On the downside, break of 1.2773 support will suggests that such corrective rise is completed and bring retest of 1.2391 low first.

Daily Pivots: (S1) 1.3062; (P) 1.3116; (R1) 1.3152; More…

GBP/USD’s retreat from 1.3176 temporary top extends lower today but stays above 1.2987 minor support. Intraday bias remains neutral and further rise remains in favor. As noted before, corrective decline from 1.3381 should have completed at 1.2865 already. On the upside, above 1.3176 will target a retest on 1.3381 high next. On the downside, below 1.2987 minor support will dampen this bullish view and turn bias back to the downside for 1.2865 support instead.

In the bigger picture, medium term decline from 1.4376 (2018 high) halted and made a medium term bottom after hitting 1.2391. Rebound from 1.2391 is seen as a corrective move for now. In case of another rise, strong resistance could be seen around 61.8% retracement of 1.4376 to 1.2391 at 1.3618 to limit upside. On the downside, break of 1.2773 support will suggests that such corrective rise is completed and bring retest of 1.2391 low first.

Daily Pivots: (S1) 1.3062; (P) 1.3116; (R1) 1.3152; More…

GBP/USD is staying in consolidation below 1.3176 temporary top and intraday bias remains neutral first. Further rise is expected as long as 1.2987 minor support holds. As noted before, corrective decline from 1.3381 should have completed at 1.2865 already. On the upside, above 1.3176 will target a retest on 1.3381 high next. On the downside, below 1.2987 minor support will dampen this bullish view and turn bias back to the downside for 1.2865 support instead.

In the bigger picture, medium term decline from 1.4376 (2018 high) halted and made a medium term bottom after hitting 1.2391. Rebound from 1.2391 is seen as a corrective move for now. In case of another rise, strong resistance could be seen around 61.8% retracement of 1.4376 to 1.2391 at 1.3618 to limit upside. On the downside, break of 1.2773 support will suggests that such corrective rise is completed and bring retest of 1.2391 low first.

Daily Pivots: (S1) 1.3051; (P) 1.3114; (R1) 1.3238; More…

A temporary top is in place in GBP/USD at 1.3176 and intraday bias is turned neutral first. Further rise is expected as long as 1.2987 minor support holds. We’d holding on to the view that corrective decline from 1.3381 has completed at 1.2865 already. On the upside, above 1.3176 will target a retest on 1.3381 high first. On the downside, below 1.2987 minor support will turn bias back to the downside for 1.2865 support instead.

In the bigger picture, medium term decline from 1.4376 (2018 high) halted and made a medium term bottom after hitting 1.2391. Rebound from 1.2391 is seen as a corrective move for now. In case of another rise, strong resistance could be seen around 61.8% retracement of 1.4376 to 1.2391 at 1.3618 to limit upside. On the downside, break of 1.2773 support will suggests that such corrective rise is completed and bring retest of 1.2391 low first.

Daily Pivots: (S1) 1.3051; (P) 1.3114; (R1) 1.3238; More…

Intraday bias in GBP/USD remains on the upside despite today’s retreat. Outlook is unchanged that corrective decline from 1.3381 has completed at 1.2865 already. Also, 1.2774 key support level was defended. Rise from 1.2391 is likely in progress. Further rise should be seen to retest 1.3381 high. On the downside, below 1.2987 minor support will turn bias back to the downside for 1.2865 support instead.

In the bigger picture, medium term decline from 1.4376 (2018 high) halted and made a medium term bottom after hitting 1.2391. Rebound from 1.2391 is seen as a corrective move for now. In case of another rise, strong resistance could be seen around 61.8% retracement of 1.4376 to 1.2391 at 1.3618 to limit upside. On the downside, break of 1.2773 support will suggests that such corrective rise is completed and bring retest of 1.2391 low first.

GBP/USD’s strong rally last week suggests that corrective decline from 1.3381 has completed at 1.2865 already. Also, 1.2774 key support level was defended. Rise from 1.2391 is likely in progress. Intraday bias is now on the upside this week for retesting 1.3381 high. On the downside, below 1.2987 minor support will turn bias back to the downside for 1.2865 support instead..

In the bigger picture, medium term decline from 1.4376 (2018 high) halted and made a medium term bottom after hitting 1.2391. Rebound from 1.2391 is seen as a corrective move for now. In case of another rise, strong resistance could be seen around 61.8% retracement of 1.4376 to 1.2391 at 1.3618 to limit upside. On the downside, break of 1.2773 support will suggests that such corrective rise is completed and bring retest of 1.2391 low first.

In the longer term picture, consolidative pattern from 1.1946 (2016 low) is still in progress. For now, we’d expect any downside attempt to be contained by 1.1946 low first. But 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) 1.3007; (P) 1.3044; (R1) 1.3069; More….

GBP/USD is staying in consolidation below 1.3102 temporary top and intraday bias remains neutral first. The corrective pull back from 1.3381 should have completed at 1.2865 already. On the upside, above 1.3102 will target 1.3381 resistance first. Break will resume whole rebound from 1.2391. On the downside, though, break of 1.2865 will target 1.2773 key support instead.

In the bigger picture, medium term decline from 1.4376 (2018 high) halted after hitting 1.2391. The structure of the rebound from 1.2391 suggests that it’s a corrective move. In case of another rise, strong resistance could be seen around 61.8% retracement of 1.4376 to 1.2391 at 1.3618 to limit upside. On the downside, break of 1.2773 support will suggests that such corrective rise is completed and bring retest of 1.2391 low first.

Daily Pivots: (S1) 1.3007; (P) 1.3044; (R1) 1.3069; More….

Intraday bias in GBP/USD remains neutral at this point and further rise is mildly in favor. Current development suggests that corrective pull back from 1.3381 has completed at 1.2865. On the upside, above 1.3102 will target 1.3381 resistance first. Break will resume whole rebound from 1.2391. On the downside, though, break of 1.2865 will target 1.2773 key support instead.

In the bigger picture, medium term decline from 1.4376 (2018 high) halted after hitting 1.2391. The structure of the rebound from 1.2391 suggests that it’s a corrective move. In case of another rise, strong resistance could be seen around 61.8% retracement of 1.4376 to 1.2391 at 1.3618 to limit upside. On the downside, break of 1.2773 support will suggests that such corrective rise is completed and bring retest of 1.2391 low first.

Daily Pivots: (S1) 1.3018; (P) 1.3060; (R1) 1.3093; More….

With 4 hour MACD crossed below signal line, a temporary top is in place at 1.3102 in GBP/USD and intraday bias is turned neutral first. Current development suggests that corrective pull back from 1.3381 has completed at 1.2865. Hence, another rise is mildly in favor. On the upside, above 1.3102 will target 1.3381 resistance first. Break will resume whole rebound from 1.2391. On the downside, though, break of 1.2865 will target 1.2773 key support instead.

In the bigger picture, medium term decline from 1.4376 (2018 high) halted after hitting 1.2391. The structure of the rebound from 1.2391 suggests that it’s a corrective move. In case of another rise, strong resistance could be seen around 61.8% retracement of 1.4376 to 1.2391 at 1.3618 to limit upside. On the downside, break of 1.2773 support will suggests that such corrective rise is completed and bring retest of 1.2391 low first.

Daily Pivots: (S1) 1.3018; (P) 1.3060; (R1) 1.3093; More….

Intraday bias in GBP/USD remains on the upside as rebound from 1.2865 should extend higher. Current development suggests that corrective pull back from 1.3381 has completed at 1.2865. Also, with 1.2773 key support intact, near term bullishness is retained. Further rise should be seen back to retest 1.3381 first. Break will resume whole rebound from 1.2391. On the downside, though, break of 1.2865 will target 1.2773 key support.

In the bigger picture, medium term decline from 1.4376 (2018 high) halted after hitting 1.2391. The structure of the rebound from 1.2391 suggests that it’s a corrective move. In case of another rise, strong resistance could be seen around 61.8% retracement of 1.4376 to 1.2391 at 1.3618 to limit upside. On the downside, break of 1.2773 support will suggests that such corrective rise is completed and bring retest of 1.2391 low first.

Daily Pivots: (S1) 1.2956; (P) 1.3003; (R1) 1.3081; More….

GBP/USD’s rise from 1.2865 is in progress and intraday bias remains on the upside. Current development suggests that corrective pull back from 1.3381 has completed at 1.2865. Also, with 1.2773 key support intact, near term bullishness is retained. Further rise should be seen back to retest 1.3381 first. Break will resume whole rebound from 1.2391. On the downside, though, break of 1.2865 will target 1.2773 key support.

In the bigger picture, medium term decline from 1.4376 (2018 high) halted after hitting 1.2391. The structure of the rebound from 1.2391 suggests that it’s a corrective move. In case of another rise, strong resistance could be seen around 61.8% retracement of 1.4376 to 1.2391 at 1.3618 to limit upside. On the downside, break of 1.2773 support will suggests that such corrective rise is completed and bring retest of 1.2391 low first.

Daily Pivots: (S1) 1.2956; (P) 1.3003; (R1) 1.3081; More….

Intraday bias in GBP/USD remains mildly on the upside at this point. Current development suggests that corrective pull back from 1.3381 has completed at 1.2865. Also, with 1.2773 key support intact, near term bullishness is retained. Further rise should be seen back to retest 1.3381 first. Break will resume whole rebound from 1.2391. On the downside, though, break of 1.2865 will target 1.2773 key support.

In the bigger picture, medium term decline from 1.4376 (2018 high) halted after hitting 1.2391. The structure of the rebound from 1.2391 suggests that it’s a corrective move. In case of another rise, strong resistance could be seen around 61.8% retracement of 1.4376 to 1.2391 at 1.3618 to limit upside. On the downside, break of 1.2773 support will suggests that such corrective rise is completed and bring retest of 1.2391 low first.

Daily Pivots: (S1) 1.2908; (P) 1.2927; (R1) 1.2951; More….

GBP/USD’s rebound from 1.2865 extends through 1.3019 minor resistance today. The development dampens original bearish view. It suggest that corrective pull back from 1.3381 has completed at 1.2865. And rebound from 1.2391 hasn’t completed yet. Intraday bias is back on the upside for retesting 1.3381 first. On the downside, though, break of 1.2865 will target 1.2773 key support.

In the bigger picture, medium term decline from 1.4376 (2018 high) halted after hitting 1.2391. The structure of the rebound from 1.2391 suggests that it’s a corrective move. In case of another rise, strong resistance could be seen around 61.8% retracement of 1.4376 to 1.2391 at 1.3618 to limit upside. On the downside, break of 1.2773 support will suggests that such corrective rise is completed and bring retest of 1.2391 low first.

Daily Pivots: (S1) 1.2908; (P) 1.2927; (R1) 1.2951; More….

Intraday bias in GBP/USD remains neutral as consolidation from 1.2865 is extending. In case of another recovery, upside should be limited by 1.3019 minor resistance to bring another decline. Current development suggests that rebound from 1.2391 has completed at 1.3381. On the downside, below 1.2865 will target 1.2773 support to confirm this bearish case. On the upside, however, break of 1.3019 resistance will dampen this bearish case and turn bias back to the upside for stronger rebound first.

In the bigger picture, medium term decline from 1.4376 (2018 high) halted after hitting 1.2391. Rise from 1.2391 could have completed after just missing 50% retracement of 1.4376 to 1.2391 at 1.338. Such rebound could be a correction to fall from 1.4376 only. Break of 1.2773 support will affirm this bearish case and target 1.2391. Break of 1.2391 will resume the fall from 1.4376 to 1.1946 (2016 low).

Daily Pivots: (S1) 1.2880; (P) 1.2912; (R1) 1.2948; More….

GBP/USD is staying in consolidation above 1.2865 temporary low. Intraday bias remains neutral first. In case of another recovery, upside should be limited by 1.3019 minor resistance to bring another decline. Current development suggests that rebound from 1.2391 has completed at 1.3381. On the downside, below 1.2865 will target 1.2773 support to confirm this bearish case. On the upside, however, break of 1.3019 resistance will dampen this bearish case and turn bias back to the upside for stronger rebound first.

In the bigger picture, medium term decline from 1.4376 (2018 high) halted after hitting 1.2391. Rise from 1.2391 could have completed after just missing 50% retracement of 1.4376 to 1.2391 at 1.338. Such rebound could be a correction to fall from 1.4376 only. Break of 1.2773 support will affirm this bearish case and target 1.2391. Break of 1.2391 will resume the fall from 1.4376 to 1.1946 (2016 low).

Daily Pivots: (S1) 1.2880; (P) 1.2912; (R1) 1.2948; More….

Intraday bias in GBP/USD remains neutral for consolidation above 1.2865 temporary low. upside of recovery should be limited by 1.3019 minor resistance to bring another decline. Current development suggests that rebound from 1.2391 has completed at 1.3381. On the downside, below 1.2865 will target 1.2773 support to confirm this bearish case. On the upside, however, break of 1.3019 resistance will dampen this bearish case and turn bias back to the upside for recovery first.

In the bigger picture, medium term decline from 1.4376 (2018 high) halted after hitting 1.2391. Rise from 1.2391 could have completed after just missing 50% retracement of 1.4376 to 1.2391 at 1.338. Such rebound could be a correction to fall from 1.4376 only. Break of 1.2773 support will affirm this bearish case and target 1.2391. Break of 1.2391 will resume the fall from 1.4376 to 1.1946 (2016 low).

GBP/USD dropped to as low as 1.2865 last week but formed a temporary low there and recovered. Initial bias is neutral this week for some consolidations first. But upside should be limited by 1.3019 minor resistance to bring another decline. Current development suggests that rebound from 1.2391 has completed at 1.3381. On the downside, below 1.2865 will target 1.2773 support to confirm this bearish case. On the upside, however, break of 1.3019 resistance will dampen this bearish case and turn bias back to the upside for recovery first.

In the bigger picture, medium term decline from 1.4376 (2018 high) halted after hitting 1.2391. Rise from 1.2391 could have completed after just missing 50% retracement of 1.4376 to 1.2391 at 1.338. Such rebound could be a correction to fall from 1.4376 only. Break of 1.2773 support will affirm this bearish case and target 1.2391. Break of 1.2391 will resume the fall from 1.4376 to 1.1946 (2016 low).

In the longer term picture, consolidative pattern from 1.1946 (2016 low) is still in progress. For now, we’d expect any downside attempt to be contained by 1.1946 low first. But 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.