Daily Pivots: (S1) 1.3071; (P) 1.3143; (R1) 1.3180; More…

Intraday bias in GBP/USD remains neutral for the moment. On the downside, break of 1.3070 minor support will indicate completion of rebound form 1.2956 and turns bias back to the downside for this low. Firm break there will resume larger decline from 1.4376 for 1.2874 fibonacci level next. On the upside, above 1.3212 will bring another rebound. But after all, price actions from 1.2956 are seen as a correction. Hence, upside should be limited by 1.3362 resistance to bring larger decline resumption eventually.

In the bigger picture, whole medium term rebound from 1.1946 (2016 low) should have completed at 1.4376 already, after rejection from 55 month EMA (now at 1.4179). Fall from 1.4376 should extend to 61.8% retracement of 1.1946 (2016 low) to 1.4376 at 1.2874 next. Decisive break of 1.2874 will raise the chance of long term down trend resumption through 1.1946 low. On the upside, break of 1.3362 resistance is needed to be the first indication of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 1.3071; (P) 1.3143; (R1) 1.3180; More…

Intraday bias in GBP/USD remains neutral at this point, with focus on 1.3070 minor support. Break will indicate completion of rebound form 1.2956 and turns bias back to the downside for this low. Firm break there will resume larger decline from 1.4376 for 1.2874 fibonacci level next. On the upside, above 1.3212 will bring another rebound. But after all, price actions from 1.2956 are seen as a correction. Hence, upside should be limited by 1.3362 resistance to bring larger decline resumption eventually.

In the bigger picture, whole medium term rebound from 1.1946 (2016 low) should have completed at 1.4376 already, after rejection from 55 month EMA (now at 1.4179). Fall from 1.4376 should extend to 61.8% retracement of 1.1946 (2016 low) to 1.4376 at 1.2874 next. Decisive break of 1.2874 will raise the chance of long term down trend resumption through 1.1946 low. On the upside, break of 1.3362 resistance is needed to be the first indication of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 1.3149; (P) 1.3175; (R1) 1.3217; More…

GBP/USD lost momentum after hitting 1.3212 as seen in 4 hour MACD. Intraday bias is turned neutral again. Overall outlook is unchanged that price actions from 1.2956 are seen as a correction. In case of another rise, upside should be limited below 1.3362 resistance to bring fall resumption eventually. On the downside, below 1.3070 minor support will bring retest of 1.2956 first. Break of 1.2956 low will resume the decline from 1.4376 to 1.2874 fibonacci level.

In the bigger picture, whole medium term rebound from 1.1946 (2016 low) should have completed at 1.4376 already, after rejection from 55 month EMA (now at 1.4179). Fall from 1.4376 should extend to 61.8% retracement of 1.1946 (2016 low) to 1.4376 at 1.2874 next. Decisive break of 1.2874 will raise the chance of long term down trend resumption through 1.1946 low. On the upside, break of 1.3362 resistance is needed to be the first indication of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 1.3149; (P) 1.3175; (R1) 1.3217; More…

Intraday bias in GBP/USD is mildly on the upside as rebound from 1.2956 is extending. Nonetheless, as it’s seen as a corrective move, upside should be limited below 1.3362 resistance to bring fall resumption eventually. On the downside, below 1.3070 minor support will bring retest of 1.2956 first. Break of 1.2956 low will resume the decline from 1.4376 to 1.2874 fibonacci level.

In the bigger picture, whole medium term rebound from 1.1946 (2016 low) should have completed at 1.4376 already, after rejection from 55 month EMA (now at 1.4179). Fall from 1.4376 should extend to 61.8% retracement of 1.1946 (2016 low) to 1.4376 at 1.2874 next. Decisive break of 1.2874 will raise the chance of long term down trend resumption through 1.1946 low. On the upside, break of 1.3362 resistance is needed to be the first indication of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 1.3089; (P) 1.3125; (R1) 1.3177; More…

GBP/USD’s rebound from 1.2956 is still in progress and could extend higher. But it’s seen as a corrective move. Hence, upside should be limited below 1.3362 resistance to bring fall resumption eventually. On the downside, below 1.3070 minor support will bring retest of 1.2956 first. Break of 1.2956 low will resume the decline from 1.4376 to 1.2874 fibonacci level.

In the bigger picture, whole medium term rebound from 1.1946 (2016 low) should have completed at 1.4376 already, after rejection from 55 month EMA (now at 1.4179). Fall from 1.4376 should extend to 61.8% retracement of 1.1946 (2016 low) to 1.4376 at 1.2874 next. Decisive break of 1.2874 will raise the chance of long term down trend resumption through 1.1946 low. On the upside, break of 1.3362 resistance is needed to be the first indication of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 1.3089; (P) 1.3125; (R1) 1.3177; More…

No change in GBP/USD’s outlook as corrective pattern from 1.2956 is extending. Intraday bias remains neutral. Stronger rise cannot be ruled out. But upside should be limited below 1.3362 resistance to bring fall resumption eventually. On the downside, break of 1.2956 will resume the decline from 1.4376 to 1.2874 fibonacci level.

In the bigger picture, whole medium term rebound from 1.1946 (2016 low) should have completed at 1.4376 already, after rejection from 55 month EMA (now at 1.4179). Fall from 1.4376 should extend to 61.8% retracement of 1.1946 (2016 low) to 1.4376 at 1.2874 next. Decisive break of 1.2874 will raise the chance of long term down trend resumption through 1.1946 low. On the upside, break of 1.3362 resistance is needed to be the first indication of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 1.3069; (P) 1.3114; (R1) 1.3145; More…

Outlook in GBP/USD remains unchanged as it’s staying in corrective pattern from 1.2956. Intraday bias remains neutral. Further recovery cannot be ruled out. But upside should be limited below 1.3362 resistance to bring fall resumption eventually. On the downside, break of 1.2956 will resume the decline from 1.4376 to 1.2874 fibonacci level.

In the bigger picture, whole medium term rebound from 1.1946 (2016 low) should have completed at 1.4376 already, after rejection from 55 month EMA (now at 1.4179). Fall from 1.4376 should extend to 61.8% retracement of 1.1946 (2016 low) to 1.4376 at 1.2874 next. Decisive break of 1.2874 will raise the chance of long term down trend resumption through 1.1946 low. On the upside, break of 1.3362 resistance is needed to be the first indication of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 1.3069; (P) 1.3114; (R1) 1.3145; More…

GBP/USD was rejected by 4 hour 55 EMA and retreated. But it’s staying in consolidation from 1.2956. Intraday bias stays neutral first. In case of another rise, upside should be limited below 1.3362 resistance to bring fall resumption eventually. On the downside, break of 1.2956 will resume the decline from 1.4376 to 1.2874 fibonacci level.

In the bigger picture, whole medium term rebound from 1.1946 (2016 low) should have completed at 1.4376 already, after rejection from 55 month EMA (now at 1.4179). Fall from 1.4376 should extend to 61.8% retracement of 1.1946 (2016 low) to 1.4376 at 1.2874 next. Decisive break of 1.2874 will raise the chance of long term down trend resumption through 1.1946 low. On the upside, break of 1.3362 resistance is needed to be the first indication of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 1.3038; (P) 1.3089; (R1) 1.3183; More…

No change in GBP/USD’s outlook. Recovery from 1.2956 could extend higher. But upside should be limited below 1.3362 resistance to bring fall resumption eventually. On the downside, break of 1.2956 will resume the decline from 1.4376 to 1.2874 fibonacci level

In the bigger picture, whole medium term rebound from 1.1946 (2016 low) should have completed at 1.4376 already, after rejection from 55 month EMA (now at 1.4179). Fall from 1.4376 should extend to 61.8% retracement of 1.1946 (2016 low) to 1.4376 at 1.2874 next. Decisive break of 1.2874 will raise the chance of long term down trend resumption through 1.1946 low. On the upside, break of 1.3362 resistance is needed to be the first indication of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 1.3038; (P) 1.3089; (R1) 1.3183; More…

GBP/USD’s recovery from 1.2956 is still in progress and further rise could be seen. But upside should be limited below 1.3362 resistance to bring fall resumption eventually. On the downside, break of 1.2956 will resume the decline from 1.4376 to 1.2874 fibonacci level

In the bigger picture, whole medium term rebound from 1.1946 (2016 low) should have completed at 1.4376 already, after rejection from 55 month EMA (now at 1.4179). Fall from 1.4376 should extend to 61.8% retracement of 1.1946 (2016 low) to 1.4376 at 1.2874 next. Decisive break of 1.2874 will raise the chance of long term down trend resumption through 1.1946 low. On the upside, break of 1.3362 resistance is needed to be the first indication of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

GBP/USD’s downside resumed and extended to as low as 1.2956 last week. But subsequent rebound suggests short term bottoming there. Initial bias is neutral this week for some more consolidations first. Stronger recovery could be seen but upside should be limited below 1.3362 resistance to bring fall resumption. On the downside, break of 1.2956 will resume the fall from 1.4376 to 1.2874 fibonacci level

In the bigger picture, whole medium term rebound from 1.1946 (2016 low) should have completed at 1.4376 already, after rejection from 55 month EMA (now at 1.4179). Fall from 1.4376 should extend to 61.8% retracement of 1.1946 (2016 low) to 1.4376 at 1.2874 next. Decisive break of 1.2874 will raise the chance of long term down trend resumption through 1.1946 low. On the upside, break of 1.3362 resistance is needed to be the first indication of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

In the longer term picture, rise from 1.1946 (2016 low) is viewed as a corrective move, no change in this view. Rejection from 55 month EMA argues that it might be completed already. Larger down trend from 2.1161 (2007 high) could extend to a new low. This will now be the preferred case as long as 1.4376 resistance holds.

Daily Pivots: (S1) 1.2953; (P) 1.3019; (R1) 1.3079; More…

GBP/USD’s strong recovery and break of 1.3082 suggests that a temporary low is formed. Intraday bias is turned neutral to bring some consolidation Stronger recovery could be seen. But upside should be limited well below 1.3362 resistance to bring fall resumption. Break of 1.2956 will resume the fall fro 1.4376 to 61.8% projection of 1.4376 to 1.3203 from 1.3362 at 1.2637 next.

In the bigger picture, whole medium term rebound from 1.1946 (2016 low) should have completed at 1.4376 already, after rejection from 55 month EMA (now at 1.4179). Fall from 1.4376 should extend to 61.8% retracement of 1.1946 (2016 low) to 1.4376 at 1.2874 next. Decisive break of 1.2874 will raise the chance of long term down trend resumption through 1.1946 low. On the upside, break of 1.3471 resistance is needed to be the first indication of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 1.2953; (P) 1.3019; (R1) 1.3079; More…

Intraday bias in GBP/USD remains on the downside with 1.3082 minor resistance intact. Current fall should target 61.8% projection of 1.4376 to 1.3203 from 1.3362 at 1.2637 next. On the upside, above 1.3082 minor resistance will turn intraday bias neutral and bring consolidations first. But recovery should be limited well below 1.3362 resistance to bring fall resumption.

In the bigger picture, whole medium term rebound from 1.1946 (2016 low) should have completed at 1.4376 already, after rejection from 55 month EMA (now at 1.4179). Fall from 1.4376 should extend to 61.8% retracement of 1.1946 (2016 low) to 1.4376 at 1.2874 next. Decisive break of 1.2874 will raise the chance of long term down trend resumption through 1.1946 low. On the upside, break of 1.3471 resistance is needed to be the first indication of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 1.3009; (P) 1.3072; (R1) 1.3135; More…

GBP/USD’s decline continues to as low as 1.2956 so far. Intraday bias stays on the downside for 1.2874 fibonacci level first. Sustained break there will carry larger bearish implications. In that case, next near term target is 61.8% projection of 1.4376 to 1.3203 from 1.3362 at 1.2637. On the upside, above 1.3082 minor resistance will turn intraday bias neutral and bring consolidations first. But recovery should be limited well below 1.3362 resistance to bring fall resumption.

In the bigger picture, whole medium term rebound from 1.1946 (2016 low) should have completed at 1.4376 already, after rejection from 55 month EMA (now at 1.4179). Fall from 1.4376 should extend to 61.8% retracement of 1.1946 (2016 low) to 1.4376 at 1.2874 next. Decisive break of 1.2874 will raise the chance of long term down trend resumption through 1.1946 low. On the upside, break of 1.3471 resistance is needed to be the first indication of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 1.3009; (P) 1.3072; (R1) 1.3135; More…

Intraday bas in GBP/USD remains on the downside with 1.3116 minor resistance intact. Current fall from 1.4376 should extend to 1.2874 fibonacci level next. Sustained break there will carry larger bearish implications. On the upside, above 1.3116 minor resistance will turn intraday bias neutral and bring consolidations first. But recovery should be limited well below 1.3362 resistance to bring fall resumption.

In the bigger picture, whole medium term rebound from 1.1946 (2016 low) should have completed at 1.4376 already, after rejection from 55 month EMA (now at 1.4179). Fall from 1.4376 should extend to 61.8% retracement of 1.1946 (2016 low) to 1.4376 at 1.2874 next. Decisive break of 1.2874 will raise the chance of long term down trend resumption through 1.1946 low. On the upside, break of 1.3471 resistance is needed to be the first indication of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 1.3036; (P) 1.3152; (R1) 1.3233; More…

GBP/USD drops to as low as 1.3009 so far today. The break of 1.3048 low confirms resumption of whole decline from 1.4376. Intraday bias remains on the downside for 1.2874 fibonacci level next. Sustained break there will carry larger bearish implications. On the upside, above 1.3116 minor resistance will turn intraday bias neutral and bring consolidations first. But recovery should be limited well below 1.3362 resistance to bring fall resumption.

In the bigger picture, whole medium term rebound from 1.1946 (2016 low) should have completed at 1.4376 already, after rejection from 55 month EMA (now at 1.4179). Fall from 1.4376 should extend to 61.8% retracement of 1.1946 (2016 low) to 1.4376 at 1.2874 next. Decisive break of 1.2874 will raise the chance of long term down trend resumption through 1.1946 low. On the upside, break of 1.3471 resistance is needed to be the first indication of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 1.3036; (P) 1.3152; (R1) 1.3233; More…

GBP/USD’s sharp fall through 1.3102 support suggest that larger decline might be resuming. Intraday bias is back on the downside for 1.3048 first. Break there will confirm and resume fall from 1.4376 for 1.2874 fibonacci level next. On the upside, above 1.3292 minor resistance will extend the consolidation pattern from 1.3048 with another recovery. But still, upside should be limited by 1.3471 to bring larger decline resumption eventually

In the bigger picture, whole medium term rebound from 1.1936 (2016 low) should have completed at 1.4376 already, after rejection from 55 month EMA (now at 1.4179). Fall from 1.4376 should extend to 61.8% retracement of 1.1936 (2016 low) to 1.4376 at 1.2874 next. We’ll pay attention to the reaction from there to asses the chance of long term down trend resumption. On the upside, sustained break of 38.2% retracement of 1.4376 to 1.3048 at 1.3555 is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 1.3204; (P) 1.3248; (R1) 1.3280; More…

GBP/USD drops sharply today but stays in range of 1.3102/3362. Intraday bias is turned neutral first. The consolidation pattern from 1.3048 could still extend. But still, in case of another rise, upside should be limited by 1.3471 to bring larger decline resumption eventually. On the downside, break of 1.3048 will resume fall from 1.4376 for 1.2874 fibonacci level next.

In the bigger picture, whole medium term rebound from 1.1936 (2016 low) should have completed at 1.4376 already, after rejection from 55 month EMA (now at 1.4179). Fall from 1.4376 should extend to 61.8% retracement of 1.1936 (2016 low) to 1.4376 at 1.2874 next. We’ll pay attention to the reaction from there to asses the chance of long term down trend resumption. On the upside, sustained break of 38.2% retracement of 1.4376 to 1.3048 at 1.3555 is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 1.3204; (P) 1.3248; (R1) 1.3280; More…

Intraday bias in GBP/USD stays mildly on the upside. Consolidation from 1.3048 is still in progress with another leg to 1.3362, or possibly above. But upside is expected to be limited by 1.3471 to bring larger decline resumption eventually. On the downside, break of 1.3048 will resume fall from 1.4376 for 1.2874 fibonacci level next.

In the bigger picture, whole medium term rebound from 1.1936 (2016 low) should have completed at 1.4376 already, after rejection from 55 month EMA (now at 1.4179). Fall from 1.4376 should extend to 61.8% retracement of 1.1936 (2016 low) to 1.4376 at 1.2874 next. We’ll pay attention to the reaction from there to asses the chance of long term down trend resumption. On the upside, sustained break of 38.2% retracement of 1.4376 to 1.3048 at 1.3555 is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.

Daily Pivots: (S1) 1.3145; (P) 1.3193; (R1) 1.3284; More…

Intraday bias in GBP/USD remains mildly on the upside for 1.3362 resistance and possibly above. But price actions from 1.3048 are seen as a consolidation pattern. Hence, upside is expected to be limited by 1.3471 to bring larger decline resumption eventually. On the downside, break of 1.3048 will resume fall from 1.4376 for 1.2874 fibonacci level next.

In the bigger picture, whole medium term rebound from 1.1936 (2016 low) should have completed at 1.4376 already, after rejection from 55 month EMA (now at 1.4179). Fall from 1.4376 should extend to 61.8% retracement of 1.1936 (2016 low) to 1.4376 at 1.2874 next. We’ll pay attention to the reaction from there to asses the chance of long term down trend resumption. On the upside, sustained break of 38.2% retracement of 1.4376 to 1.3048 at 1.3555 is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish in case of strong rebound.