Daily Pivots: (S1) 1.3544; (P) 1.3658; (R1) 1.3729; More…

Touching of 1.3665 minor resistance suggests temporary bottoming at 1.3579. Intraday bias in GBP/USD is turned neutral first. Some consolidations could be seen. But even in case of strong rebound, upside should be limited by 4 hour 55 EMA (now at 1.3817) to bring fall resumption. Below 1.3579 will extend the decline from 1.4376 to 1.3448 fibonacci level next.

In the bigger picture, current development suggests that whole medium term rebound from 1.1936 (2016 low) has completed at 1.4376 already, with trend line broken, on bearish divergence condition in daily MACD, after rejection from 55 month EMA (now at 1.4248). Deeper decline should be seen to 38.2% retracement of 1.1936 (2016 low) to 1.4376 at 1.3448 first. Break will target 61.8% retracement at 1.2874 and below. Outlook will stay bearish as long as 55 day EMA (now at 1.3955) holds, even in case of strong rebound.

Daily Pivots: (S1) 1.3544; (P) 1.3658; (R1) 1.3729; More…

GBP/USD reaches as low as 1.3579 so far and there is no sign of bottoming yet. Intraday bias remains on the downside and fall from 1.4376 should target 1.3448 fibonacci level next. On the upside, above 1.3665 minor resistance will turn intraday bias neutral first. Some consolidations could then be seen before another decline.

In the bigger picture, current development suggests that whole medium term rebound from 1.1936 (2016 low) has completed at 1.4376 already, with trend line broken, on bearish divergence condition in daily MACD, after rejection from 55 month EMA (now at 1.4248). Deeper decline should be seen to 38.2% retracement of 1.1936 (2016 low) to 1.4376 at 1.3448 first. Break will target 61.8% retracement at 1.2874 and below. Outlook will stay bearish as long as 55 day EMA (now at 1.3955) holds, even in case of strong rebound.

Daily Pivots: (S1) 1.3720; (P) 1.3755; (R1) 1.3799; More…

GBP/USD’s decline continues today and reaches as low as 1.3654 so far. The break of 1.3711 key support indicates medium term reversal. That is, whole rally from 1.1946 has completed. Intraday bias remains on the downside for 1.3448 fibonacci level next. On the upside, break of 1.3791 resistance is needed to be the first sign of short term bottoming. Otherwise, outlook will remain bearish even in case of recovery.

In the bigger picture, bearish divergence condition in daily MACD is raising the chance of medium term reversal. Also, note that GBP/USD has just failed to sustain above 55 month EMA (now at 1.4248) again. Focus is back on 1.3711 support. Firm break there will confirm medium term reversal and target 38.2% retracement of 1.1936 (2016 low) to 1.4376 at 1.3448 first. Break will target 61.8% retracement at 1.2874 and below. For now, sustained break of 55 month EMA is needed to confirm medium term upside momentum. Otherwise, we won’t turn bullish even in case of strong rebound.

Daily Pivots: (S1) 1.3720; (P) 1.3755; (R1) 1.3799; More…

With 1.3791 minor resistance intact, intraday bias in GBP/USD stays on the downside with focus on 1.3711 key support. Decisive break of 1.3711 key support should confirm medium term reversal. That is, whole rally from 1.1946 has completed. And deeper fall should be seen to 1.3448 fibonacci level next. On the upside, above 1.3791 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, bearish divergence condition in daily MACD is raising the chance of medium term reversal. Also, note that GBP/USD has just failed to sustain above 55 month EMA (now at 1.4248) again. Focus is back on 1.3711 support. Firm break there will confirm medium term reversal and target 38.2% retracement of 1.1946 (2016 low) to 1.4376 at 1.3448 first. Break will target 61.8% retracement at 1.2874 and below. For now, sustained break of 55 month EMA is needed to confirm medium term upside momentum. Otherwise, we won’t turn bullish even in case of strong rebound.

Daily Pivots: (S1) 1.3703; (P) 1.3819; (R1) 1.3891; More…

GBP/USD’s fall extends to as low as 1.3712 so far today and intraday bias remains on the downside. Decisive break of 1.3711 key support should confirm medium term reversal. That is whole rally from 1.1946 has completed. And deeper fall should be seen to 1.3448 fibonacci level next. On the upside, above 1.3791 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, bearish divergence condition in daily MACD is raising the chance of medium term reversal. Also, note that GBP/USD has just failed to sustain above 55 month EMA (now at 1.4257) again. Focus is back on 1.3711 support. Firm break there will confirm medium term reversal and target 38.2% retracement of 1.1936 (2016 low) to 1.4376 at 1.3448 first. Break will target 61.8% retracement at 1.2874 and below. For now, sustained break of 55 month EMA is needed to confirm medium term upside momentum. Otherwise, we won’t turn bullish even in case of strong rebound.

Daily Pivots: (S1) 1.3703; (P) 1.3819; (R1) 1.3891; More…

Intraday bias in GBP/USD remains on the downside as fall from 1.4376 is in progress. Deeper decline would be seen to 1.3711 key support level next. Decisive break there should confirm medium term reversal and target 1.3448 fibonacci level. On the upside, above 1.3835 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, bearish divergence condition in daily MACD is raising the chance of medium term reversal. Also, note that GBP/USD has just failed to sustain above 55 month EMA (now at 1.4257) again. Focus is back on 1.3711 support. Firm break there will confirm medium term reversal and target 38.2% retracement of 1.1936 (2016 low) to 1.4376 at 1.3448 first. Break will target 61.8% retracement at 1.2874 and below. For now, sustained break of 55 month EMA is needed to confirm medium term upside momentum. Otherwise, we won’t turn bullish even in case of strong rebound.

GBP/USD’s decline from 1.4376 extended to as low as 1.3746 last week and there is no sign of bottoming yet. Initial bias remains on the downside this week for 1.3711 key support level. Decisive break there should confirm medium term reversal and target 1.3448 fibonacci level. On the upside, above 1.3835 minor resistance. will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, bearish divergence condition in daily MACD is raising the chance of medium term reversal. Also, note that GBP/USD has just failed to sustain above 55 month EMA (now at 1.4257) again. Focus is back on 1.3711 support. Firm break there will confirm medium term reversal and target 38.2% retracement of 1.1936 (2016 low) to 1.4376 at 1.3448 first. Break will target 61.8% retracement at 1.2874 and below. For now, sustained break of 55 month EMA is needed to confirm medium term upside momentum. Otherwise, we won’t turn bullish 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. Focus stays on 55 month EMA (now at 1.4257). Rejection from there will turn focus back to 1.1946 low and could probably extend the down trend from 2.1161. On the other hand, sustained break of the EMA would at least bring further rally to 38.2% retracement of 2.1161 (2007 high) to 1.1946 (2016 low) at 1.5466.

Daily Pivots: (S1) 1.3872; (P) 1.3934; (R1) 1.3975; More…

GBP/USD’s decline from 1.4376 resumed after brief consolidation and accelerated to as low as 1.3746 so far. Intraday bias remains on the downside for 1.3711 key support level. Decisive break there should confirm medium term reversal and target 1.3448 fibonacci level. On the upside, above 1.3895 will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, bearish divergence condition in daily MACD is raising the chance of medium term reversal. Also, note that GBP/USD has just failed to sustain above 55 month EMA (now at 1.4257) again. Focus is back on 1.3711 support. Firm break there will confirm medium term reversal and target 38.2% retracement of 1.1936 (2016 low) to 1.4376 at 1.3448 first. Break will target 61.8% retracement at 1.2874 and below. For now, sustained break of 55 month EMA is needed to confirm medium term upside momentum. Otherwise, we won’t turn bullish even in case of strong rebound.

Daily Pivots: (S1) 1.3872; (P) 1.3934; (R1) 1.3975; More…

Intraday bias in GBP/USD remains neutral for consolidation above 1.3894 temporary low. Another recovery cannot be ruled out. But upside should be limited by 1.4089 minor resistance to bring fall resumption. Below 1.3894 will extend the fall from 1.4376 and target 1.3711 key support next. However, firm break of 1.4089 will turn focus back to 1.4376 high instead.

In the bigger picture, bearish divergence condition in daily MACD is raising the chance of medium term reversal. Also, note that GBP/USD has just failed to sustain above 55 month EMA (now at 1.4257) again. Focus is back on 1.3711 support. Firm break there will confirm medium term reversal and target 38.2% retracement of 1.1936 (2016 low) to 1.4376 at 1.3448 first. Break will target 61.8% retracement at 1.2874 and below. For now, sustained break of 55 month EMA is needed to confirm medium term upside momentum. Otherwise, we won’t turn bullish even in case of strong rebound.

Daily Pivots: (S1) 1.3899; (P) 1.3965; (R1) 1.4004; More…

Despite dipping to 1.3894, GBP/USD quickly recovered with 4 hour MACD staying above signal line. Intraday bias remains neutral for more consolidative trading. Upside of recovery should be limited by 1.4089 minor resistance to bring fall resumption. Below 1.3894 will target 1.3711 key support next. However, firm break of 1.4089 will turn focus back to 1.4376 high instead.

In the bigger picture, bearish divergence condition in daily MACD is raising the chance of medium term reversal. Also, note that GBP/USD has just failed to sustain above 55 month EMA (now at 1.4257). Focus is back on 1.3711 support. Firm break there will confirm medium term reversal and target 38.2% retracement of 1.1936 (2016 low) to 1.4376 at 1.3448 first. Break will target 61.8% retracement at 1.2874 and below. For now, sustained break of 55 month EMA is needed to confirm medium term upside momentum. Otherwise, we won’t turn bullish even in case of strong rebound.

Daily Pivots: (S1) 1.3899; (P) 1.3965; (R1) 1.4004; More…

Intraday bias in GBP/USD remains neutral as consolidation from 1.3917 temporary low is still unfolding. Another recovery cannot be ruled out. But upside should be limited by 1.4089 minor resistance to bring fall resumption. Below 1.3917 will target 1.3711 key support next. However, firm break of 1.4089 will turn focus back to 1.4376 high instead.

In the bigger picture, bearish divergence condition in daily MACD is raising the chance of medium term reversal. Also, note that GBP/USD has just failed to sustain above 55 month EMA (now at 1.4257). Focus is back on 1.3711 support. Firm break there will confirm medium term reversal and target 38.2% retracement of 1.1936 (2016 low) to 1.4376 at 1.3448 first. Break will target 61.8% retracement at 1.2874 and below. For now, sustained break of 55 month EMA is needed to confirm medium term upside momentum. Otherwise, we won’t turn bullish even in case of strong rebound.

Daily Pivots: (S1) 1.3899; (P) 1.3965; (R1) 1.4004; More…

GBP/USD is staying in consolidation above 1.3917 temporary low and intraday bias remains neutral for the moment. Another recovery could be seen. But upside should be limited by 1.4089 minor resistance to bring fall resumption. Below 1.3917 will target 1.3711 key support next. However, firm break of 1.4089 will turn focus back to 1.4376 high instead.

In the bigger picture, bearish divergence condition in daily MACD is raising the chance of medium term reversal. Also, note that GBP/USD has just failed to sustain above 55 month EMA (now at 1.4257). Focus is back on 1.3711 support. Firm break there will confirm medium term reversal and target 38.2% retracement of 1.1936 (2016 low) to 1.4376 at 1.3448 first. Break will target 61.8% retracement at 1.2874 and below. For now, sustained break of 55 month EMA is needed to confirm medium term upside momentum. Otherwise, we won’t turn bullish even in case of strong rebound.

Daily Pivots: (S1) 1.3899; (P) 1.3965; (R1) 1.4004; More…

Intraday bias in GBP/USD remains neutral for consolidation above 1.3917 temporary low. Another recovery could be seen. But upside should be limited by 1.4089 minor resistance to bring fall resumption. Below 1.3917 will target 1.3711 key support next. However, firm break of 1.4089 will turn focus back to 1.4376 high instead.

In the bigger picture, bearish divergence condition in daily MACD is raising the chance of medium term reversal. Also, note that GBP/USD has just failed to sustain above 55 month EMA (now at 1.4257). Focus is back on 1.3711 support. Firm break there will confirm medium term reversal and target 38.2% retracement of 1.1936 (2016 low) to 1.4376 at 1.3448 first. Break will target 61.8% retracement at 1.2874 and below. For now, sustained break of 55 month EMA is needed to confirm medium term upside momentum. Otherwise, we won’t turn bullish even in case of strong rebound.

Daily Pivots: (S1) 1.3899; (P) 1.3965; (R1) 1.4004; More…

Intraday bias in GBP/USD remains on the downside as fall from 1.4376 is in progress. Deeper decline would be seen to 1.3711 key support level. On the upside, above 1.4030 minor resistance will turn intraday bias neutral and bring consolidations. But for now, near term risk will stay on the downside as long as 4 hour 55 EMA (now at 1.4114 holds).

In the bigger picture, bearish divergence condition in daily MACD is raising the chance of medium term reversal. Also, note that GBP/USD has just failed to sustain above 55 month EMA (now at 1.4257). Focus is back on 1.3711 support. Firm break there will confirm medium term reversal and target 38.2% retracement of 1.1936 (2016 low) to 1.4376 at 1.3448 first. Break will target 61.8% retracement at 1.2874 and below. For now, sustained break of 55 month EMA is needed to confirm medium term upside momentum. Otherwise, we won’t turn bullish even in case of strong rebound.

Daily Pivots: (S1) 1.3968; (P) 1.4029; (R1) 1.4060; More…

GBP/USD’s decline from 1.4376 extends to as low as 1.3942 so far today. Break of 1.3965 support should now pave the way to 1.3711 key support level. On the upside, above 1.4030 minor resistance will turn intraday bias neutral and bring consolidations. But for now, near term risk will stay on the downside as long as 4 hour 55 EMA (now at 1.4142 holds).

In the bigger picture, bearish divergence condition in daily MACD is raising the chance of medium term reversal. Also, note that GBP/USD has just failed to sustain above 55 month EMA (now at 1.4257). Focus is back on 1.3711 support. Firm break there will confirm medium term reversal and target 38.2% retracement of 1.1936 (2016 low) to 1.4376 at 1.3448 first. Break will target 61.8% retracement at 1.2874 and below. For now, sustained break of 55 month EMA is needed to confirm medium term upside momentum. Otherwise, we won’t turn bullish even in case of strong rebound.

Daily Pivots: (S1) 1.3968; (P) 1.4029; (R1) 1.4060; More…

GBP/USD recovers mildly but with 1.4069 minor resistance intact, intraday bias stays on the downside for 1.3965 support. Break there will pave the way to 1.3711 key support level. On the upside, above 1.4069 minor resistance will turn intraday bias neutral and bring consolidations. But for now, near term risk will stay on the downside as long as 4 hour 55 EMA (now at 1.4157 holds).

In the bigger picture, bearish divergence condition in daily MACD is raising the chance of medium term reversal. Also, note that GBP/USD has just failed to sustain above 55 month EMA (now at 1.4257). Focus is back on 1.3711 support. Firm break there will confirm medium term reversal and target 38.2% retracement of 1.1936 (2016 low) to 1.4376 at 1.3448 first. Break will target 61.8% retracement at 1.2874 and below. For now, sustained break of 55 month EMA is needed to confirm medium term upside momentum. Otherwise, we won’t turn bullish even in case of strong rebound.

GBP/USD edged higher to 1.4376 last week but reversed and dropped sharply to close at 1.3995. Initial bias remains on the downside this week for 1.3965 support first. Break there will pave the way to 1.3711 key support level. On the upside, above 1.4069 minor resistance will turn intraday bias neutral and bring consolidations. But for now, near term risk will stay on the downside as long as 4 hour 55 EMA (now at 1.4173 holds).

In the bigger picture, bearish divergence condition in daily MACD is raising the chance of medium term reversal. Also, note that GBP/USD has just failed to sustain above 55 month EMA (now at 1.4257). Focus is back on 1.3711 support. Firm break there will confirm medium term reversal and target 38.2% retracement of 1.1936 (2016 low) to 1.4376 at 1.3448 first. Break will target 61.8% retracement at 1.2874 and below. For now, sustained break of 55 month EMA is needed to confirm medium term upside momentum. Otherwise, we won’t turn bullish 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. Focus stays on 55 month EMA (now at 1.4257. Rejection from there will turn focus back to 1.1946 low and could probably extend the down trend from 2.1161. On the other hand, sustained break of the EMA would at least bring further rally to 38.2% retracement of 2.1161 (2007 high) to 1.1946 (2016 low) at 1.5466.

Daily Pivots: (S1) 1.4016; (P) 1.4131; (R1) 1.4195; More…

GBP/USD decline extends to as low as 1.4018 so far. Intraday bias stays on the downside for 1.3965 support. Considering bearish divergence condition in daily MACD, a medium term could be in place at 1.4376 already. Break of 1.3965 will pave the way to retest 1.3711 key support level. On the upside, above 1.4098 minor resistance will turn intraday bias neutral first.

In the bigger picture, rise from 1.1946 (2016 low) could be still in progress . It is at least correcting the long term down trend from 2007 high at 2.1161. Further rally would be seen back to 38.2% retracement of 2.1161 (2007 high) to 1.1946 (2016 low) at 1.5466. We’d continue to favor this medium term bullish view as long as 1.3711 support holds, even in case of deep pull back.

Daily Pivots: (S1) 1.4016; (P) 1.4131; (R1) 1.4195; More…

GBP/USD’s fall from 1.4376 accelerates to as low as 1.4039 so far. The strong break of 1.4144 firstly indicate short term topping. And considering bearish divergence condition in daily MACD, it’s also an early sign of medium term topping. Intraday bias is turned to the downside for 1.3965 support first. Break will pave the way to retest 1.3711 key support level On the upside, above 1.4160 minor resistance will turn focus back to 1.4376 instead.

In the bigger picture, rise from 1.1946 (2016 low) is still in progress . It is at least correcting the long term down trend from 2007 high at 2.1161. Further rally would be seen back to 38.2% retracement of 2.1161 (2007 high) to 1.1946 (2016 low) at 1.5466. We’d continue to favor this medium term bullish view as long as 1.3711 support holds, even in case of deep pull back.

Daily Pivots: (S1) 1.4145; (P) 1.4229; (R1) 1.4287; More…

GBP/USD recovers ahead of 1.4144 minor support and intraday bias stays neutral. For now, price actions from 1.4376 are viewed as developing into a consolidation pattern, even though such pattern might take a while to complete. Further rise is still expected. On the upside, break of 1.4376 will confirm up trend resumption. In that case, GBP/USD would target 61.8% projection of 1.3038 to 1.4345 from 1.3711 at 1.4519. However, on the downside, firm break of 1.4144 will be an early sign of medium term topping and turn focus back to 1.3965 support.

In the bigger picture, rise from 1.1946 (2016 low) is in progress and resuming. It is at least correcting the long term down trend from 2007 high at 2.1161. Further rally would be seen back to 38.2% retracement of 2.1161 (2007 high) to 1.1946 (2016 low) at 1.5466. We’d continue to favor this medium term bullish view as long as 1.3711 support holds, even in case of deep pull back.