Tue, Mar 31, 2020 @ 01:15 GMT

GBP/USD Mid-Day Outlook

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.

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GBP/USD Daily Outlook

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.

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GBP/USD Mid-Day Outlook

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.

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GBP/USD Daily Outlook

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.

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GBP/USD Mid-Day Outlook

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.

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GBP/USD Daily Outlook

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.

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GBP/USD Weekly Outlook

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.

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GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2849; (P) 1.2898; (R1) 1.2935; More

GBP/USD dropped to as low as 1.2823 today and break of 1.2849 indicates resumption of corrective fall from 1.3514. Intraday bias is back to the downside for 50% retracement of 1.1958 to 1.3514 at 1.2736. On the upside, break of 1.3018 resistance is need to indicate short term bottoming. Otherwise, further fall remains in favor in case of recovery.

In the bigger picture, rise from 1.1958 medium term bottom is not completed yet despite current pull back form 1.3514. Such rally is expected to resume later 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. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

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GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2849; (P) 1.2898; (R1) 1.2935; More

Intraday bias in GBP/USD remains neutral for the moment. Consolidation from 1.3514 is in progress. Further decline is mildly in favor with 1.3069 resistance intact. Break of 1.2849 will extend the corrective fall from 1.3514 to 50% retracement of 1.1958 to 1.3514 at 1.2736. However, break of 1.3069 will turn bias to the upside for 1.3209 resistance.

In the bigger picture, rise from 1.1958 medium term bottom is not completed yet despite current pull back form 1.3514. Such rally is expected to resume later 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. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

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GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2863; (P) 1.2936; (R1) 1.2972; More

Intraday bias in GBP/USD remains neutral and outlook is unchanged. Consolidation from 1.3514 is in progress. Further decline is mildly in favor with 1.3069 resistance intact. Break of 1.2849 will extend the corrective fall from 1.3514 to 50% retracement of 1.1958 to 1.3514 at 1.2736. However, break of 1.3069 will turn bias to the upside for 1.3209 resistance.

In the bigger picture, rise from 1.1958 medium term bottom is not completed yet despite current pull back form 1.3514. Such rally is expected to resume later 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. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

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GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2863; (P) 1.2936; (R1) 1.2972; More

Outlook in GBP/USD is unchanged as consolidation from 1.3514 is in progress. Further decline is mildly in favor with 1.3069 resistance intact. Break of 1.2849 will extend the corrective fall from 1.3514 to 50% retracement of 1.1958 to 1.3514 at 1.2736. However, break of 1.3069 will turn bias to the upside for 1.3209 resistance.

In the bigger picture, rise from 1.1958 medium term bottom is not completed yet despite current pull back form 1.3514. Such rally is expected to resume later 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. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

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GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2937; (P) 1.2978; (R1) 1.3041; More

Intraday bias in GBP/USD remains neutral and outlook is unchanged. Consolidation from 1.3514 is still in progress and further decline is in favor as long as 1.3069 resistance holds. Break of 1.2849 will extend the corrective fall from 1.3514 to 50% retracement of 1.1958 to 1.3514 at 1.2736. However, break of 1.3069 will turn bias to the upside for 1.3209 resistance.

In the bigger picture, rise from 1.1958 medium term bottom is not completed yet despite current pull back form 1.3514. Such rally is expected to resume later 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. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

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GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2937; (P) 1.2978; (R1) 1.3041; More

Intraday bias in GBP/USD remains neutral for the moment. Overall, consolidation from 1.3514 is still in progress and further decline is in favor as long as 1.3069 resistance holds. Break of 1.2849 will extend the corrective fall from 1.3514 to 50% retracement of 1.1958 to 1.3514 at 1.2736. However, break of 1.3069 will turn bias to the upside for 1.3209 resistance.

In the bigger picture, rise from 1.1958 medium term bottom is not completed yet despite current pull back form 1.3514. Such rally is expected to resume later 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. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

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GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2892; (P) 1.2923; (R1) 1.2960; More

GBP/USD is staying in range above 1.2849 and intraday bias remains neutral first. Overall, consolidation from 1.3514 is still in progress and further decline is in favor as long as 1.3069 resistance holds. Break of 1.2849 will extend the corrective fall from 1.3514 to 50% retracement of 1.1958 to 1.3514 at 1.2736. However, break of 1.3069 will turn bias to the upside for 1.3209 resistance.

In the bigger picture, rise from 1.1958 medium term bottom is not completed yet despite current pull back form 1.3514. Such rally is expected to resume later 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. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

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GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2892; (P) 1.2923; (R1) 1.2960; More

Intraday bias in GBP/USD remains neutral for the moment. Consolidation from 1.3514 is still in progress and further decline is in favor as long as 1.3069 resistance holds. Break of 1.2849 will extend the corrective fall from 1.3514 to 50% retracement of 1.1958 to 1.3514 at 1.2736. However, break of 1.3069 will turn bias to the upside for 1.3209 resistance.

In the bigger picture, rise from 1.1958 medium term bottom is not completed yet despite current pull back form 1.3514. Such rally is expected to resume later 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. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

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GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2896; (P) 1.2939; (R1) 1.3000; More

No change in GBP/USD’s outlook as it’s staying in consolidation from 1.3514 that might extend further. Further decline is expected as long as 1.3069 resistance holds. Break of 1.2849 will extend the corrective fall from 1.3514 to 50% retracement of 1.1958 to 1.3514 at 1.2736. However, break of 1.3069 will turn bias to the upside for 1.3209 resistance.

In the bigger picture, rise from 1.1958 medium term bottom is not completed yet despite current pull back form 1.3514. Such rally is expected to resume later 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. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

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GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2896; (P) 1.2939; (R1) 1.3000; More

Intraday bias in GBP/USD remains neutral at this point. Further decline is expected as long as 1.3069 resistance holds. Break of 1.2849 will extend the corrective fall from 1.3514 to 50% retracement of 1.1958 to 1.3514 at 1.2736. Break of 1.3069 will turn bias to the upside for 1.3209 resistance. Overall, GBP/USD is staying in consolidation from 1.3514 and might extend further.

In the bigger picture, rise from 1.1958 medium term bottom is not completed yet despite current pull back form 1.3514. Such rally is expected to resume later 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. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

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GBP/USD Weekly Outlook

GBP/USD edged lower to 1.2849 last week but recovered. Initial bias remain s neutral this week first. Further decline is expected as long as 1.3069 resistance holds. Break of 1.2849 will extend the corrective fall from 1.3514 to 50% retracement of 1.1958 to 1.3514 at 1.2736. Break of 1.3069 will turn bias to the upside for 1.3209 resistance. Overall, GBP/USD is staying in consolidation from 1.3514 and might extend further.

In the bigger picture, rise from 1.1958 medium term bottom is not completed yet despite current pull back form 1.3514. Such rally is expected to resume later 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. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

In the longer term picture, it’s still unsure whether long term down trend form 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.

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GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2843; (P) 1.2886; (R1) 1.2923; More

Break of 1.2929 minor resistance suggests temporary bottoming at 1.2849. Intraday bias is turned neutral first. Further decline is expected as long as 1.3069 resistance holds. Break of 1.2849 will extend the corrective fall from 1.3514 to 50% retracement of 1.1958 to 1.3514 at 1.2736.

In the bigger picture, rise from 1.1958 medium term bottom is not completed yet despite current pull back form 1.3514. Such rally is expected to resume later 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. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

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GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2843; (P) 1.2886; (R1) 1.2923; More

Intraday bias in GBP/USD remains on the downside with 1.2929 minor resistance intact. Corrective fall form 1.3514 is in progress and should target 50% retracement of 1.1958 to 1.3514 at 1.2736 next. On the downside, above 1.2929 minor resistance will turn intraday bias neutral first. But further fall is expected as long as 1.3069 resistance holds, in case of recovery.

In the bigger picture, rise from 1.1958 medium term bottom is not completed yet despite current pull back form 1.3514. Such rally is expected to resume later 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. In any case, for now, outlook will stay bullish as long as 1.2582 resistance turned support holds.

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