Daily Pivots: (S1) 1.2762; (P) 1.2869; (R1) 1.2935; More…

GBP/USD drops sharply today as low as 1.2618 so far. Break of 1.2725 support confirms resumption of whole decline from 1.3514. Intraday bias is now on the downside for 61.8% retracement of 1.1958 to 1.3514 at 1.2552. Some support could be seen there and break of 1.2848 minor resistance will turn intraday bias neutral first. However, sustained break of 1.2552 will pave the way to retest 1.1958 low.

In the bigger picture, rise from 1.1958 is expected resume after correction from 1.3514 completes. Next target is 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. However, sustained break of 1.2582 resistance turned support will dampen these views and bring retest of 1.1958 low instead.

Daily Pivots: (S1) 1.2762; (P) 1.2869; (R1) 1.2935; More…

Current development suggests that corrective fall from 1.3514 is still in progress. Break of 1.2725 will confirm this case and target 61.8% retracement of 1.1958 to 1.3514 at 1.2552. On the upside, though, break of 1.3209 will indicate completion of the correction from 1.3514 and bring retest of this high.

In the bigger picture, rise from 1.1958 is expected resume after correction from 1.3514 completes. Next target is 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. However, sustained break of 1.2582 resistance turned support will dampen these views and bring retest of 1.1958 low instead.

Daily Pivots: (S1) 1.2817; (P) 1.2971; (R1) 1.3060; More…

GBP/USD edged lower to 1.2827 today but quickly recovered. Intraday bias remains neutral for the moment. Prior rejection by 1.3209 resistance argues that corrective fall from 1.3514 might not be over yet. Break of 1.2725 will target 61.8% retracement of 1.1958 to 1.3514 at 1.2552. On the upside, though, break of 1.3209 will confirm completion of the correction from 1.3514 and bring retest of this high.

In the bigger picture, rise from 1.1958 is expected resume after correction from 1.3514 completes. Next target is 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. However, sustained break of 1.2582 resistance turned support will dampen these views and bring retest of 1.1958 low instead.

Daily Pivots: (S1) 1.2817; (P) 1.2971; (R1) 1.3060; More…

GBP/USD’s break of 1.2993 minor support suggests rejection by 1.3209 resistance. Corrective pattern from 1.3514 is possibly still extending. Intraday bias is back on the upside for retesting 1.2725 low first. On the upside, break of 1.320/9 will confirm completion of the correction from 1.3514 and bring retest of this high.

In the bigger picture, rise from 1.1958 is expected resume after correction from 1.3514 completes. Next target is 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. However, sustained break of 1.2582 resistance turned support will dampen these views and bring retest of 1.1958 low instead.

Daily Pivots: (S1) 1.3033; (P) 1.3116; (R1) 1.3198; More…

Intraday bias in GBP/USD remains neutral first and further rally is in favor with 1.2993 minor support intact. On the upside, decisive break of 1.3209 should confirm completion of correction from 1.3514 at 1.2725. Further rally should be seen to retest 1.3514 next. On the downside, however, break of 1.2993 will turn bias to the downside for 1.2725 low instead.

In the bigger picture, rise from 1.1958 is expected resume after correction from 1.3514 completes. Next target is 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. However, sustained break of 1.2582 resistance turned support will dampen these views and bring retest of 1.1958 low instead.

Daily Pivots: (S1) 1.3033; (P) 1.3116; (R1) 1.3198; More…

GBP/USD retreated after failing to break through 1.3209 resistance and intraday bias turns neutral first. Further rise is in favor as long as 1.2993 minor support holds. On the upside, decisive break of 1.3209 should confirm completion of correction from 1.3514 at 1.2725. Further rally should be seen to retest 1.3514 next. On the downside, however, break of 1.2993 will turn bias to the downside for 1.2725 low instead.

In the bigger picture, rise from 1.1958 is expected resume after correction from 1.3514 completes. Next target is 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. However, sustained break of 1.2582 resistance turned support will dampen these views and bring retest of 1.1958 low instead.

Daily Pivots: (S1) 1.2979; (P) 1.3015; (R1) 1.3082; More…

Intraday bias in GBP/USD remains on the upside at this point. As noted before, correction from 1.3514 should have completed at 1.2725, after hitting 50% retracement of 1.1958 to 1.3514 at 1.2736. Decisive break of 1.3209 should confirm this bullish case and target a test on 1.3514. On the downside, break of 1.2993 will dampen this bullish view and turn bias to the downside for 1.2725 low instead.

In the bigger picture, rise from 1.1958 is expected resume after correction from 1.3514 completes. Next target is 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. However, sustained break of 1.2582 resistance turned support will dampen these views and bring retest of 1.1958 low instead.

Daily Pivots: (S1) 1.2979; (P) 1.3015; (R1) 1.3082; More…

GBP/USD’s rise from 1.2725 continues today and intraday bias stays on the upside for 1.3209 resistance. As noted before, correction from 1.3514 should have completed at 1.2725, after hitting 50% retracement of 1.1958 to 1.3514 at 1.2736. Decisive break of 1.3209 should confirm this bullish case and target a test on 1.3514. On the downside, break of 1.2993 will dampen this bullish view and turn bias to the downside for 1.2725 low instead.

In the bigger picture, rise from 1.1958 is expected resume after correction from 1.3514 completes. Next target is 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. However, sustained break of 1.2582 resistance turned support will dampen these views and bring retest of 1.1958 low instead.

GBP/USD’s strong rebound last week, and break of 1.3018 resistance, suggests that correction from 1.3514 has completed at 1.2725, after hitting 50% retracement of 1.1958 to 1.3514 at 1.2736. Initial bias remains on the upside this week for 1.3209 resistance next. Firm break there should confirm this bullish case and target a test on 1.3514. However, break of 1.2899 minor support will bring retest of 1.2725 low instead.

In the bigger picture, rise from 1.1958 is expected resume after correction from 1.3514 completes. Next target is 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. However, sustained break of 1.2582 resistance turned support will dampen these views and bring retest of 1.1958 low instead.

In the longer term picture, it’s still unsure whether long term down trend from 2.1161 (2007 high) has completed at 1.1946 already. Focus is immediately on 55 month EMA (now at 1.3471) and sustained break will be the first serious sign of long term reversal. Further break of trend line resistance (now at 1.3922) will be another signal. Focus would then be turned to 1.4376 key resistance for confirmation.

Daily Pivots: (S1) 1.2891; (P) 1.2929; (R1) 1.2998; More…

GBP/USD’s break of 1.3018 resistance suggests that corrective fall from 1.3514 has completed at 1.2725. That came after drawing support from 50% retracement of 1.1958 to 1.3514 at 1.2736. Intraday bias is back on the upside for 1.3209 resistance first. Firm break there should confirm this bullish case and pave the way to retest 1.3514 high.

In the bigger picture, current decline from 1.3514 is seen as corrective the rally from 1.1958. Such rally is expected to resume latter to 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. However, sustained break of 1.2582 resistance turned support will dampen these views and bring retest of 1.1958 low instead.

Daily Pivots: (S1) 1.2891; (P) 1.2929; (R1) 1.2998; More…

GBP/USD’s rebound from 1.2725 extends higher today but it’s staying below 1.3018 resistance. Intraday bias remains neutral and corrective fall from 1.3514 is still in favor to continue. Break of 1.2725 will extend the corrective fall from 1.3514 to 61.8% retracement of 1.1958 to 1.3514 at 1.2552. We’d look for strong support from there to bring rebound. Break of 1.3018 will indicate short term bottoming and turn bias back to the upside instead.

In the bigger picture, current decline from 1.3514 is seen as corrective the rally form 1.1958. Such rally is expected to resume latter to 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. However, sustained break of 1.2582 resistance turned support will dampen these views and bring retest of 1.1958 low instead.

Daily Pivots: (S1) 1.2803; (P) 1.2837; (R1) 1.2905; More…

No change in GBP/USD’s outlook at this point. Intraday bias stays neutral first. Further decline is expected with 1.3108 resistance intact. Sustained break of 1.2736 will extend the corrective fall from 1.3514 to 61.8% retracement at 1.2552. We’d look for strong support from there to bring rebound. Break of 1.3018 will indicate short term bottoming and turn bias back to the upside instead.

In the bigger picture, current decline from 1.3514 is seen as corrective the rally form 1.1958. Such rally is expected to resume latter to 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. However, sustained break of 1.2582 resistance turned support will dampen these views and bring retest of 1.1958 low instead.

Daily Pivots: (S1) 1.2803; (P) 1.2837; (R1) 1.2905; More…

Intraday bias in GBP/USD remains neutral for consolidation above 1.2725 temporary low. Further decline is expected with 1.3108 resistance intact. Sustained break of 1.2736 will extend the corrective fall from 1.3514 to 61.8% retracement at 1.2552. We’d look for strong support from there to bring rebound. Break of 1.3018 will indicate short term bottoming and turn bias back to the upside instead.

In the bigger picture, current decline from 1.3514 is seen as corrective the rally form 1.1958. Such rally is expected to resume latter to 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. However, sustained break of 1.2582 resistance turned support will dampen these views and bring retest of 1.1958 low instead.

Daily Pivots: (S1) 1.2755; (P) 1.2800; (R1) 1.2858; More…

GBP/USD is staying in consolidation form 1.2725 temporary low and intraday bias remains neutral. Further decline is expected with 1.3108 resistance intact. Sustained break of 1.2736 will extend the corrective fall from 1.3514 to 61.8% retracement at 1.2552. We’d look for strong support from there to bring rebound. Break of 1.3018 will indicate short term bottoming and turn bias back to the upside instead.

In the bigger picture, current decline from 1.3514 is seen as corrective the rally form 1.1958. Such rally is expected to resume latter to 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. However, sustained break of 1.2582 resistance turned support will dampen these views and bring retest of 1.1958 low instead.

Daily Pivots: (S1) 1.2755; (P) 1.2800; (R1) 1.2858; More…

Intraday bias in GBP/USD is neutral for consolidation above 1.2725 temporary low. Further decline is expected with 1.3108 resistance intact. Sustained break of 1.2736 will extend the corrective fall from 1.3514 to 61.8% retracement at 1.2552. We’d look for strong support from there to bring rebound. Break of 1.3018 will indicate short term bottoming and turn bias back to the upside instead.

In the bigger picture, current decline from 1.3514 is seen as corrective the rally form 1.1958. Such rally is expected to resume latter to 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. However, sustained break of 1.2582 resistance turned support will dampen these views and bring retest of 1.1958 low instead.

Daily Pivots: (S1) 1.2710; (P) 1.2781; (R1) 1.2821; More…

GBP/USD lose some downside momentum after hitting 50% retracement of 1.1958 to 1.3514 at 1.2736. But further decline is expected with 1.3108 resistance intact. Sustained break of 1.2736 will extend the corrective fall from 1.3514 to 61.8% retracement at 1.2552. We’d look for strong support from there to bring rebound.

In the bigger picture, current decline from 1.3514 is seen as corrective the rally form 1.1958. Such rally is expected to resume latter to 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. However, sustained break of 1.2582 resistance turned support will dampen these views and bring retest of 1.1958 low instead.

Daily Pivots: (S1) 1.2710; (P) 1.2781; (R1) 1.2821; More…

Intraday bias in GBP/USD remains on the downside as corrective fall from 1.3514 is in progress. Sustained break of 50% retracement of 1.1958 to 1.3514 at 1.2736 will pave the way to 61.8% retracement at 1.2552. We’d look for strong support from there to bring rebound. But break of 1.3018 resistance is needed to indicate short term bottoming. Otherwise, risk will remain on the downside in case of recovery.

In the bigger picture, current decline from 1.3514 is seen as corrective the rally form 1.1958. Such rally is expected to resume latter to 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. However, sustained break of 1.2582 resistance turned support will dampen these views and bring retest of 1.1958 low instead.

Daily Pivots: (S1) 1.2726; (P) 1.2823; (R1) 1.2920; More…

No change in GBP/USD’s outlook as intraday bias remains on the downside. Sustained break of 50% retracement of 1.1958 to 1.3514 at 1.2736 will pave the way to 61.8% retracement at 1.2552. We’d look for strong support from there to bring rebound. But break of 1.3018 resistance is needed to indicate short term bottoming. Otherwise, risk will remain on the downside in case of recovery.

In the bigger picture, current decline from 1.3514 is seen as corrective the rally form 1.1958. Such rally is expected to resume latter to 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. However, sustained break of 1.2582 resistance turned support will dampen these views and bring retest of 1.1958 low instead.

Daily Pivots: (S1) 1.2726; (P) 1.2823; (R1) 1.2920; More…

Intraday bias in GBP/USD remains on the downside at this point. Sustained break of 50% retracement of 1.1958 to 1.3514 at 1.2736 will pave the way to 61.8% retracement at 1.2552. We’d look for strong support from there to bring rebound. But break of 1.3018 resistance is needed to indicate short term bottoming. Otherwise, risk will remain on the downside in case of recovery.

In the bigger picture, current decline from 1.3514 is seen as corrective the rally form 1.1958. Such rally is expected to resume latter to 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. However, sustained break of 1.2582 resistance turned support will dampen these views and bring retest of 1.1958 low instead.

GBP/USD’s corrective fall from 1.3514 extended to as low as 1.2725 last week, and touched 50% retracement of 1.1958 to 1.3514 at 1.2736. Further fall is expected this week as long as 1.3018 resistance holds. Next target is 61.8% retracement at 1.2552. We’d look for strong support from there to bring rebound.

In the bigger picture, current decline from 1.3514 is seen as corrective the rally form 1.1958. Such rally is expected to resume latter to 1.4376 key resistance. Reactions from there would decide whether it’s in consolidation from 1.1946 (2016 low). Or, firm break of 1.4376 will indicate long term bullish reversal. However, sustained break of 1.2582 resistance turned support will dampen these views and bring retest of 1.1958 low instead.

In the longer term picture, it’s still unsure whether long term down trend from 2.1161 (2007 high) has completed at 1.1946 already. Focus is immediately on 55 month EMA (now at 1.3489) and sustained break will be the first serious sign of long term reversal. Further break of trend line resistance (now at 1.3922) will be another signal. Focus would then be turned to 1.4376 key resistance for confirmation.