Daily Pivots: (S1) 1.3942; (P) 1.3983; (R1) 1.4036; More….

GBP/USD’s fall from 1.4144 extends lower today but it’s so far staying in range of 1.3764/4144. Intraday bias remains neutral first. On the upside, break of 1.4144 will extend the rebound from 1.3764 and target a test on 1.4345 resistance. Break there will resume larger up trend and target long term trend line resistance (now at 1.5105). On the downside, below 1.3764 will extend the correction from 1.4345 to 1.3651 resistance turned support instead.

In the bigger picture, as long as 1.3038 support holds, medium term outlook in GBP/USD will remains bullish. Rise from 1.1946 is at least correcting the long term down 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. However, GBP/USD fails to sustain above 55 month EMA (now at 1.4279) so far. Break of 1.3038 support, will suggests that rise from 1.1946 has completed and will turn outlook bearish for retesting this low.

Daily Pivots: (S1) 1.3942; (P) 1.3983; (R1) 1.4036; More….

GBP/USD is staying in consolidation below 1.4144 temporary top and intraday bias remains neutral. As noted before, pull back from 1.4345 should have completed with three waves down to 1.3764. Above 1.4144 will target 1.4345 first. Break will resume larger up trend and target long term trend line resistance (now at 1.5105). On the downside, below 1.3764 will extend the correction to 1.3651 resistance turned support instead.

In the bigger picture, as long as 1.3038 support holds, medium term outlook in GBP/USD will remains bullish. Rise from 1.1946 is at least correcting the long term down 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. However, GBP/USD fails to sustain above 55 month EMA (now at 1.4279) so far. Break of 1.3038 support, will suggests that rise from 1.1946 has completed and will turn outlook bearish for retesting this low.

Daily Pivots: (S1) 1.3954; (P) 1.4001; (R1) 1.4045; More….

GBP/USD is staying in consolidation below 1.4144 temporary top and intraday bias remains neutral. As noted before, pull back from 1.4345 should have completed with three waves down to 1.3764. Above 1.4144 will target 1.4345 first. Break will resume larger up trend and target long term trend line resistance (now at 1.5105). On the downside, below 1.3764 will extend the correction to 1.3651 resistance turned support instead.

In the bigger picture, as long as 1.3038 support holds, medium term outlook in GBP/USD will remains bullish. Rise from 1.1946 is at least correcting the long term down 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. However, GBP/USD fails to sustain above 55 month EMA (now at 1.4279) so far. Break of 1.3038 support, will suggests that rise from 1.1946 has completed and will turn outlook bearish for retesting this low.

Daily Pivots: (S1) 1.3954; (P) 1.4001; (R1) 1.4045; More….

Intraday bias in GBP/USD remains neutral for consolidation below 1.4144 temporary top. As noted before, pull back from 1.4345 should have completed with three waves down to 1.3764. Above 1.4144 will target 1.4345 first. Break will resume larger up trend and target long term trend line resistance (now at 1.5105). On the downside, below 1.3764 will extend the correction to 1.3651 resistance turned support instead.

In the bigger picture, as long as 1.3038 support holds, medium term outlook in GBP/USD will remains bullish. Rise from 1.1946 is at least correcting the long term down 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. However, GBP/USD fails to sustain above 55 month EMA (now at 1.4279) so far. Break of 1.3038 support, will suggests that rise from 1.1946 has completed and will turn outlook bearish for retesting this low.

Daily Pivots: (S1) 1.3970; (P) 1.4058; (R1) 1.4120; More…..

Intraday bias in GBP/USD remains neutral first. As noted before, pull back from 1.4345 should have completed with three waves down to 1.3764. Above 1.4144 will target 1.4345 first. Break will resume larger up trend and target long term trend line resistance (now at 1.5105). On the downside, below 1.3764 will extend the correction to 1.3651 resistance turned support instead.

In the bigger picture, as long as 1.3038 support holds, medium term outlook in GBP/USD will remains bullish. Rise from 1.1946 is at least correcting the long term down 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. However, GBP/USD fails to sustain above 55 month EMA (now at 1.4279) so far. Break of 1.3038 support, will suggests that rise from 1.1946 has completed and will turn outlook bearish for retesting this low.

GBP/USD rebounded to 1.4144 last week but formed a temporary top there and retreated. Initial bias is neutral this week first. The pull back from 1.4345 should have completed with three waves down to 1.3764. Above 1.4144 will target 1.4345 first. Break will resume larger up trend and target long term trend line resistance (now at 1.5105). On the downside, below 1.3764 will extend the correction to 1.3651 resistance turned support instead.

In the bigger picture, as long as 1.3038 support holds, medium term outlook in GBP/USD will remains bullish. Rise from 1.1946 is at least correcting the long term down 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. However, GBP/USD fails to sustain above 55 month EMA (now at 1.4279) so far. Break of 1.3038 support, will suggests that rise from 1.1946 has completed and will turn outlook bearish for retesting this low.

In the longer term picture, rise from 1.1946 should at least be correcting the whole long term down trend form 2.1161 and should target 38.2% retracement of 2.1161 (2007 high) to 1.1946 (2016 low) at 1.5466. It too early to tell if it’s developing into a long term up trend. We’ll monitor the upside momentum and reaction to 1.5466 to decide later.

Daily Pivots: (S1) 1.4027; (P) 1.4065; (R1) 1.4139; More…..

Further rise is mildly in favor in GBP/USD. Pull back from 1.4345 should have completed at 1.3764 already. Retest of 1.4345 should be seen next. Break there will resume larger up trend and target long term trend line resistance (now at 1.5105). On the downside, below 1.3764 will extend the correction to 1.3651 resistance turned support instead.

In the bigger picture, as long as 1.3038 support holds, medium term outlook in GBP/USD will remains bullish. Rise from 1.1946 is at least correcting the long term down 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. However, GBP/USD fails to sustain above 55 month EMA (now at 1.4279) so far. Break of 1.3038 support, will suggests that rise from 1.1946 has completed and will turn outlook bearish for retesting this low.

Daily Pivots: (S1) 1.4027; (P) 1.4065; (R1) 1.4139; More…..

Outlook in GBP/USD is unchanged. Pull back from 1.4345 should have completed at 1.3764 already. Intraday bias remains on the upside for retesting 1.4345 first. Break there will resume larger up trend and target long term trend line resistance (now at 1.5105). On the downside, below 1.3764 will extend the correction to 1.3651 resistance turned support instead.

In the bigger picture, as long as 1.3038 support holds, medium term outlook in GBP/USD will remains bullish. Rise from 1.1946 is at least correcting the long term down 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. However, GBP/USD fails to sustain above 55 month EMA (now at 1.4279) so far. Break of 1.3038 support, will suggests that rise from 1.1946 has completed and will turn outlook bearish for retesting this low.

Daily Pivots: (S1) 1.3859; (P) 1.3938; (R1) 1.4075; More…..

GBP/USD’s break of 1.4066 minor resistance suggests that pull back from 1.4345 has completed at 1.3765 already. Intraday bias is turned back to the upside for retesting 1.4345 first. Break there will resume larger up trend and target long term trend line resistance (now at 1.5105).

In the bigger picture, as long as 1.3038 support holds, medium term outlook in GBP/USD will remains bullish. Rise from 1.1946 is at least correcting the long term down 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. However, GBP/USD fails to sustain above 55 month EMA (now at 1.4279) so far. Break of 1.3038 support, will suggests that rise from 1.1946 has completed and will turn outlook bearish for retesting this low.

Daily Pivots: (S1) 1.3859; (P) 1.3938; (R1) 1.4075; More…..

Intraday bias in GBP/USD remains neutral for consolidation above 1.3764 temporary low. On the upside, break of 1.4066 minor resistance will suggest that corrective pull back from 1.4345 has completed. Intraday bias would then be turned back to the upside for retesting 1.4345. Break will resume larger up trend. On the downside, below 1.3764 will extend the correction to 1.3651 resistance turned support.

In the bigger picture, as long as 1.3038 support holds, medium term outlook in GBP/USD will remains bullish. Rise from 1.1946 is at least correcting the long term down 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. However, GBP/USD fails to sustain above 55 month EMA (now at 1.4279 so far. Break of 1.3038 support, will suggests that rise from 1.1946 has completed and will turn outlook bearish for retesting this low.

Daily Pivots: (S1) 1.3841; (P) 1.3882; (R1) 1.3932; More…..

GBP/USD failed to take out 4 hour 55 EMA and weakens again in early US session. Outlook in GBP/USD remains unchanged as fall from 1.4345 is expected to extend to 1.3651 resistance turned support. It’s still unsure whether decline from 1.4345 is correcting rise from 1.3038, or that from 1.1946, or it’s reversing the trend. Break of 1.3651 will turn focus to key fibonacci level at 1.3429. On the upside, break of 1.4066 will turn bias back to the upside for retesting 1.4345 instead.

In the bigger picture, as long as 1.3038 support holds, medium term outlook in GBP/USD will remains bullish. Rise from 1.1946 is at least correcting the long term down 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. However, GBP/USD fails to sustain above 55 month EMA (now at 1.4279 so far. Break of 1.3038 support, will suggests that rise from 1.1946 has completed and will turn outlook bearish for retesting this low.

Daily Pivots: (S1) 1.3841; (P) 1.3882; (R1) 1.3932; More…..

No change in GBP/USD’s outlook, with 1.4066 minor resistance intact, deeper fall is expected in GBP/USD for 1.3651 resistance turned support. It’s still unsure whether decline from 1.4345 is correcting rise from 1.3038, or that from 1.1946, or it’s reversing the trend. Break of 1.3651 will turn focus to key fibonacci level at 1.3429. On the upside, break of 1.4066 will turn bias back to the upside for retesting 1.4345 instead.

In the bigger picture, as long as 1.3038 support holds, medium term outlook in GBP/USD will remains bullish. Rise from 1.1946 is at least correcting the long term down 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. However, GBP/USD fails to sustain above 55 month EMA (now at 1.4279 so far. Break of 1.3038 support, will suggests that rise from 1.1946 has completed and will turn outlook bearish for retesting this low.

Daily Pivots: (S1) 1.3796; (P) 1.3835; (R1) 1.3876; More…..

No change in GBP/USD’s outlook, with 1.4066 minor resistance intact, deeper fall is expected in GBP/USD for 1.3651 resistance turned support. It’s still unsure whether decline from 1.4345 is correcting rise from 1.3038, or that from 1.1946, or it’s reversing the trend. Break of 1.3651 will turn focus to key fibonacci level at 1.3429. On the upside, break of 1.4066 will turn bias back to the upside for retesting 1.4345 instead.

In the bigger picture, as long as 1.3038 support holds, medium term outlook in GBP/USD will remains bullish. Rise from 1.1946 is at least correcting the long term down 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. However, GBP/USD fails to sustain above 55 month EMA (now at 1.4279 so far. Break of 1.3038 support, will suggests that rise from 1.1946 has completed and will turn outlook bearish for retesting this low.

Daily Pivots: (S1) 1.3796; (P) 1.3835; (R1) 1.3876; More…..

With 1.4066 minor resistance intact, deeper fall is expected in GBP/USD for 1.3651 resistance turned support. It’s still unsure whether decline from 1.4345 is correcting rise from 1.3038, or that from 1.1946, or it’s reversing the trend. Break of 1.3651 will turn focus to key fibonacci level at 1.3429. On the upside, break of 1.4066 will turn bias back to the upside for retesting 1.4345 instead.

In the bigger picture, as long as 1.3038 support holds, medium term outlook in GBP/USD will remains bullish. Rise from 1.1946 is at least correcting the long term down 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. However, GBP/USD fails to sustain above 55 month EMA (now at 1.4279 so far. Break of 1.3038 support, will suggests that rise from 1.1946 has completed and will turn outlook bearish for retesting this low.

Daily Pivots: (S1) 1.3814; (P) 1.3940; (R1) 1.4035; More…..

At this point, intraday bias remains on the downside. The decline from 1.4345 is still in progress for 1.3651 resistance turned support. It’s still unsure whether decline from 1.4345 is correcting rise from 1.3038, or that from 1.1946, or it’s reversing the trend. Break of 1.3651 will turn focus to key fibonacci level at 1.3429. For the moment, further decline will remain expected as long as 1.4066 minor resistance holds.

In the bigger picture, as long as 1.3038 support holds, medium term outlook in GBP/USD will remains bullish. Rise from 1.1946 is at least correcting the long term down 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. However, GBP/USD fails to sustain above 55 month EMA (now at 1.4279 so far. Break of 1.3038 support, will suggests that rise from 1.1946 has completed and will turn outlook bearish for retesting this low.

Daily Pivots: (S1) 1.3814; (P) 1.3940; (R1) 1.4035; More…..

Intraday bias in GBP/USD remains on the downside as the decline from 1.4345 is still in progress for 1.3651 resistance turned support. At this point, it’s still unsure whether decline from 1.4345 is correcting rise from 1.3038, or that from 1.1946, or it’s reversing the trend. Break of 1.3651 will turn focus to key fibonacci level at 1.3429. For the moment, further decline will remain expected as long as 1.4066 minor resistance holds.

In the bigger picture, as long as 1.3038 support holds, medium term outlook in GBP/USD will remains bullish. Rise from 1.1946 is at least correcting the long term down 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. However, GBP/USD fails to sustain above 55 month EMA (now at 1.4279 so far. Break of 1.3038 support, will suggests that rise from 1.1946 has completed and will turn outlook bearish for retesting this low.

GBP/USD’s corrective fall from 1.4345 extended lower last week. Initial bias remains on the downside this week for 1.3651 resistance turned support. At this point, it’s still unsure whether decline from 1.4345 is correcting rise from 1.3038, or that from 1.1946, or it’s reversing the trend. Break of 1.3651 will turn focus to key fibonacci level at 1.3429. For the moment, further decline will remain expected as long as 1.4066 minor resistance holds.

In the bigger picture, as long as 1.3038 support holds, medium term outlook in GBP/USD will remains bullish. Rise from 1.1946 is at least correcting the long term down 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. However, GBP/USD fails to sustain above 55 month EMA (now at 1.4279 so far. Break of 1.3038 support, will suggests that rise from 1.1946 has completed and will turn outlook bearish for retesting this low.

In the longer term picture, rise from 1.1946 should at least be correcting the whole long term down trend form 2.1161 and should target 38.2% retracement of 2.1161 (2007 high) to 1.1946 (2016 low) at 1.5466. It too early to tell if it’s developing into a long term up trend. We’ll monitor the upside momentum and reaction to 1.5466 to decide later.

Daily Pivots: (S1) 1.3814; (P) 1.3940; (R1) 1.4035; More…..

GBP/USD’s recovery was limited by 4 hour 55 EMA. Subsequent break of 1.3835 indicates resumption of decline from 1.4345 and intraday bias is turned to the downside for 1.3651 resistance turned support. At this point, it’s still unsure whether decline from 1.4345 is correcting rise from 1.3038, or that from 1.1946, or it’s reversing the trend. Break of 1.3651 will turn focus to key fibonacci level at 1.3429. For the moment, further decline will remain expected as long as 1.4066 minor resistance holds.

In the bigger picture, sustained break of 1.3835 key resistance level indicates that rebound from 1.1946 is at least correcting the long term down from from 2007 high at 2.1161. Further rise should now be seen back to 38.2% retracement of 2.1161 (2007 high) to 1.1946 (2016 low) at 1.5466. Medium term outlook will stay bullish 38.2% retracement of 1.1946 to 1.4345 at 1.3429, in case of deep pull back.

Daily Pivots: (S1) 1.3814; (P) 1.3940; (R1) 1.4035; More…..

Intraday bias in GBP/USD remains neutral for the moment. At this point, it’s still unsure whether decline from 1.4345 is correcting rise from 1.3038, or that from 1.1946, or it’s reversing the trend. But another fall will remain in favor as long as 1.4345 resistance holds. Below 1.3835 will target 1.3651 resistance turned support first. Break of 1.3651 will turn focus to key fibonacci level at 1.3429.

In the bigger picture, sustained break of 1.3835 key resistance level indicates that rebound from 1.1946 is at least correcting the long term down from from 2007 high at 2.1161. Further rise should now be seen back to 38.2% retracement of 2.1161 (2007 high) to 1.1946 (2016 low) at 1.5466. Medium term outlook will stay bullish 38.2% retracement of 1.1946 to 1.4345 at 1.3429, in case of deep pull back.

Daily Pivots: (S1) 1.3820; (P) 1.3907; (R1) 1.3967; More…..

GBP/USD recovers strongly on hawkish BoE. Break of 1.3999 minor resistance indicates temporary bottoming at 1.3835. Intraday bias is turned neutral first. At this point, it’s still unsure whether decline from 1.4345 is correcting rise from 1.3038, or that from 1.1946, or it’s reversing the trend. Below 1.3835 will target 1.3651 resistance turned support first. On the upside, break of 1.4345 is needed to confirm rally resumption. Otherwise, we’d expect more corrective trading with risk of at least another decline.

In the bigger picture, sustained break of 1.3835 key resistance level indicates that rebound from 1.1946 is at least correcting the long term down from from 2007 high at 2.1161. Further rise should now be seen back to 38.2% retracement of 2.1161 (2007 high) to 1.1946 (2016 low) at 1.5466. Medium term outlook will stay bullish 38.2% retracement of 1.1946 to 1.4345 at 1.3429, in case of deep pull back.