Daily Pivots: (S1) 1.3043; (P) 1.3093; (R1) 1.3137; More….

GBP/USD continues to stay in range below 1.3185 and intraday bias remains neutral first. Further rally is expected with 1.2982 support intact. On the upside, break of 1.3185 will extend the rally from 1.1409 to 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303. However, break of 1.2982 support should confirm short term topping. Intraday bias will be turned back to the downside for 1.2813 resistance turned support.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

GBP/USD stayed in consolidation below 1.3185 last week and outlook is unchanged. Initial bias remains neutral this week first. Further rally is expected with 1.2982 support intact. On the upside, break of 1.3185 will extend the rally from 1.1409 to 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303. However, break of 1.2982 support should confirm short term topping. Intraday bias will be turned back to the downside for 1.2813 resistance turned support.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

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). Prior rejections by 55 month EMA also affirmed bearishness. Further fall is expected as long as 1.3514 resistance holds.

Daily Pivots: (S1) 1.3024; (P) 1.3074; (R1) 1.3116; More….

GBP/USD recovers notably after drawing support from 4 hour 55 EMA. But it’s still staying below 1.3185 resistance and intraday bias remains neutral. Overall, further rally is expected with 1.2982 support intact. On the upside, break of 1.3184 will resume larger rise to 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303. However, break of 1.2982 support should confirm short term topping. Intraday bias will be turned back to the downside for 1.2813 resistance turned support.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

Daily Pivots: (S1) 1.3024; (P) 1.3074; (R1) 1.3116; More….

Range trading continues in GBP/USD and intraday bias remains neutral first. Near term outlook stays bullish with 1.2982 support intact. On the upside, break of 1.3184 will resume larger rise to 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303. However, break of 1.2982 support should confirm short term topping. Intraday bias will be turned back to the downside for 1.2813 resistance turned support.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

Daily Pivots: (S1) 1.3000; (P) 1.3034; (R1) 1.3063; More….

Intraday bias in GBP/USD remains neutral first and more consolidation could be seen. Near term outlook stays bullish with 1.2982 support intact. On the upside, break of 1.3184 will resume larger rise to 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303. However, break of 1.2982 support should confirm short term topping. Intraday bias will be turned back to the downside for 1.2813 resistance turned support.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

Daily Pivots: (S1) 1.3000; (P) 1.3034; (R1) 1.3063; More….

Range trading continues in GBP/USD and intraday bias remains neutral first. With 1.2982 support intact, further rise is mildly in favor. On the upside, break of 1.3185 will target 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303. However, break of 1.2982 support should confirm short term topping. Intraday bias will be turned back to the downside for 1.2813 resistance turned support.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

Daily Pivots: (S1) 1.3017; (P) 1.3074; (R1) 1.3107; More….

Intraday bias in GBP/USD remains neutral and outlook is unchanged. As long as 1.2982 support holds, further rise could be seen. On the upside, break of 1.3185 will target 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303. However, break of 1.2982 support should confirm short term topping. Intraday bias will be turned back to the downside for 1.2813 resistance turned support.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

Daily Pivots: (S1) 1.3017; (P) 1.3074; (R1) 1.3107; More….

Intraday bias in GBP/USD remains neutral for the moment. As long as 1.2982 support holds, further rise could be seen. On the upside, break of 1.3185 will target 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303. However, break of 1.2982 support should confirm short term topping. Intraday bias will be turned back to the downside for 1.2813 resistance turned support.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

Daily Pivots: (S1) 1.3026; (P) 1.3064; (R1) 1.3110; More….

Range trading continues in GBP/USD and intraday bias remains neutral first. Further rise could still be seen as long as 1.2982 support holds. Break of 1.3815 will target 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303. However, break of 1.2982 support should confirm short term topping. Intraday bias will be turned back to the downside for 1.2813 resistance turned support.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

Daily Pivots: (S1) 1.3026; (P) 1.3064; (R1) 1.3110; More….

Intraday bias in GBP/USD remains neutral at this point. Further rise could still be seen as long as 1.2982 support holds. Break of 1.3815 will target 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303. However, break of 1.2982 support should confirm short term topping. Intraday bias will be turned back to the downside for 1.2813 resistance turned support.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

Daily Pivots: (S1) 1.2992; (P) 1.3072; (R1) 1.3135; More….

GBP/USD is staying in range of 1.2982/3185 and intraday bias remains neutral first. Further rise could still be seen as long as 1.2982 support holds. Break of 1.3815 will target 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303. However, break of 1.2982 support should confirm short term topping. Intraday bias will be turned back to the downside for 1.2813 resistance turned support.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

Daily Pivots: (S1) 1.2992; (P) 1.3072; (R1) 1.3135; More….

Intraday bias in GBP/USD remains neutral for the moment. Further rise could still be seen as long as 1.2982 support holds. Break of 1.3815 will target 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303. However, break of 1.2982 support should confirm short term topping. Intraday bias will be turned back to the downside for 1.2813 resistance turned support.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

GBP/.USD edged higher to 1.3185 last week but quickly retreated. Initial bias is neutral first. Further rise could still be seen as long as 1.2982 support holds. Break of 1.3815 will target 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303. However, break of 1.2982 support should confirm short term topping. Intraday bias will be turned back to the downside for 1.2813 resistance turned support.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

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). Prior rejections by 55 month EMA also affirmed bearishness. Further fall is expected as long as 1.3514 resistance holds.

Daily Pivots: (S1) 1.3109; (P) 1.3147; (R1) 1.3182; More….

Intraday bias in GBP/USD remains neutral for the moment. Further rise will remain in favor as long as 1.2982 support holds. On the upside, break of 1.3185 will resume larger rally to 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next. However, firm break of 1.2982 will suggest short term topping and turn bias to the downside for deeper correction to 1.2813 resistance turned support.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

Daily Pivots: (S1) 1.3109; (P) 1.3147; (R1) 1.3182; More….

GBP/USD lost momentum after hitting 1.3185 and intraday bias is turned neutral again. Further rise will remain in favor as long as 1.2982 support holds. On the upside, break of 1.3185 will resume larger rally to 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next. However, firm break of 1.2982 will suggest short term topping and turn bias to the downside for deeper correction.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

Daily Pivots: (S1) 1.3063; (P) 1.3112; (R1) 1.3167; More….

Intraday bias in GBP/USD remains on the upside for the moment. Current rise should target 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next. On the downside, break of 1.2982 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

Daily Pivots: (S1) 1.3063; (P) 1.3112; (R1) 1.3167; More….

GBP/USD’s break of 1.3170 resistance suggests resumption of whole rise fro m1.1409. Intraday bias is turned back to the upside for 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next. On the downside, break of 1.2982 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

Daily Pivots: (S1) 1.2999; (P) 1.3054; (R1) 1.3125; More….

Intraday bias in GBP/USD remains neutral but focus is back on 1.3170 temporary top with today’s rebound. Break there will resume larger rise from 1.1409 to 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next. On the downside, break of 1.2982 minor support turn bias back to the downside for 1.2813 cluster support (38.2% retracement of 1.2251 to 1.3170 at 1.2819).

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

Daily Pivots: (S1) 1.2999; (P) 1.3054; (R1) 1.3125; More….

Intraday bias in GBP/USD is turned neutral as it recovered quickly after hitting 1.2982. On the upside, break of 1.3170 will resume larger rise from 1.1409 to 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next. On the downside, break of 1.2982 minor support will resume the correction to 1.2813 cluster support (38.2% retracement of 1.2251 to 1.3170 at 1.2819).

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.

Daily Pivots: (S1) 1.3017; (P) 1.3065; (R1) 1.3125; More….

GBP/USD’s break of 1.3013 minor support suggest short term topping in 1.3170. Intraday bias is back on the downside for 4 hour 55 EMA (now at 1.2941) and below. Downside should be contained by 1.2813 cluster support (38.2% retracement of 1.2251 to 1.3170 at 1.2819) to bring rebound. On the upside, break of 1.3170 will resume larger rise from 1.1409 to 100% projection of 1.1409 to 1.2647 from 1.2065 at 1.3303 next.

In the bigger picture, while the rebound from 1.1409 is strong, there is not enough evidence for trend reversal yet. Down trend from 2.1161 (2007 high) should still resume sooner or later. However, decisive break of 1.3514 should at least confirm medium term bottoming and turn outlook bullish for 1.4376 resistance first.