Daily Pivots: (S1) 1.2113; (P) 1.2201; (R1) 1.2249; More

GBP/USD is extending the consolidation pattern from 1.2036 and intraday bias remains neutral. Downside breakout is still mildly in favor. On the downside, decisive break of 1.2036 will resume whole decline from 1.3141 for 1.1801 support next. However, break of 1.2336 will turn bias back to the upside for 38.2% retracement of 1.3141 to 1.2036 at 1.2458.

In the bigger picture, fall from 1.3141 medium term top could still be a correction to up trend from 1.0351 (2022 low) only. But risk of complete trend reversal is rising. Sustained break of 38.2% retracement of 1.0351 to 1.3141 at 1.2075 will pave the way to 61.8% retracement at 1.1417. For now, risk will stay on the downside as long as 55 D EMA (now at 1.2384) holds, in case of rebound.

Daily Pivots: (S1) 1.2174; (P) 1.2216; (R1) 1.2290; More

Intraday bias in GBP/USD remains neutral as range trading continues between 1.2036/2336. Downside breakout is still mildly in favor. On the downside, decisive break of 1.2036 will resume whole decline from 1.3141 for 1.1801 support next. However, break of 1.2336 will turn bias back to the upside for 38.2% retracement of 1.3141 to 1.2036 at 1.2458.

In the bigger picture, fall from 1.3141 medium term top could still be a correction to up trend from 1.0351 (2022 low) only. But risk of complete trend reversal is rising. Sustained break of 38.2% retracement of 1.0351 to 1.3141 at 1.2075 will pave the way to 61.8% retracement at 1.1417. For now, risk will stay on the downside as long as 55 D EMA (now at 1.2384) holds, in case of rebound.

Daily Pivots: (S1) 1.2174; (P) 1.2216; (R1) 1.2290; More

GBP/USD is staying in range of 1.2036/2336 despite current recovery. Intraday bias remains neutral for the moment, and downside breakout is mildly in favor. On the downside, decisive break of 1.2036 will resume whole decline from 1.3141 for 1.1801 support next. However, break of 1.2336 will turn bias back to the upside for 38.2% retracement of 1.3141 to 1.2036 at 1.2458.

In the bigger picture, fall from 1.3141 medium term top could still be a correction to up trend from 1.0351 (2022 low) only. But risk of complete trend reversal is rising. Sustained break of 38.2% retracement of 1.0351 to 1.3141 at 1.2075 will pave the way to 61.8% retracement at 1.1417. For now, risk will stay on the downside as long as 55 D EMA (now at 1.2384) holds, in case of rebound.

Daily Pivots: (S1) 1.2115; (P) 1.2143; (R1) 1.2192; More

Sideway trading continues in GBP/USD and intraday bias remains neutral. Downside breakout is in favor with 1.2336 resistance intact. On the downside, decisive break of 1.2036 will resume whole decline from 1.3141 for 1.1801 support next. However, break of 1.2336 will turn bias back to the upside for 38.2% retracement of 1.3141 to 1.2036 at 1.2458.

In the bigger picture, fall from 1.3141 medium term top could still be a correction to up trend from 1.0351 (2022 low) only. But risk of complete trend reversal is rising. Sustained break of 38.2% retracement of 1.0351 to 1.3141 at 1.2075 will pave the way to 61.8% retracement at 1.1417. For now, risk will stay on the downside as long as 55 D EMA (now at 1.2384) holds, in case of rebound.

Daily Pivots: (S1) 1.2115; (P) 1.2143; (R1) 1.2192; More

Intraday bias in GBP/USD stays neutral as consolidation from 1.2036 is extending. Downside breakout is in favor with 1.2336 resistance intact. On the downside, decisive break of 1.2036 will resume whole decline from 1.3141 for 1.1801 support next. However, break of 1.2336 will turn bias back to the upside for 38.2% retracement of 1.3141 to 1.2036 at 1.2458.

In the bigger picture, fall from 1.3141 medium term top could still be a correction to up trend from 1.0351 (2022 low) only. But risk of complete trend reversal is rising. Sustained break of 38.2% retracement of 1.0351 to 1.3141 at 1.2075 will pave the way to 61.8% retracement at 1.1417. For now, risk will stay on the downside as long as 55 D EMA (now at 1.2384) holds, in case of rebound.

GBP/USD extended the consolidation pattern from 1.2036 last week and outlook is unchanged. Initial bias remains neutral this week first and downside breakout is in favor. Break of On the downside, decisive break of 1.2036 will resume whole decline from 1.3141 for 1.1801 support next. However, break of 1.2336 will turn bias back to the upside for 38.2% retracement of 1.3141 to 1.2036 at 1.2458.

In the bigger picture, fall from 1.3141 medium term top could still be a correction to up trend from 1.0351 (2022 low) only. But risk of complete trend reversal is rising. Sustained break of 38.2% retracement of 1.0351 to 1.3141 at 1.2075 will pave the way to 61.8% retracement at 1.1417. For now, risk will stay on the downside as long as 55 D EMA (now at 1.2384) holds, in case of rebound.

In the long term picture, there is no clear sign of trend reversal yet. Rise from 1.0351 could be part of a consolidation pattern to down trend from 2.1161 (2007 high). Rejection by 55 M EMA (now at 1.2900) will retain long term bearishness for extending the down trend at a later stage.

USD/CHF’s fall from 0.9243 extended lower last week and the development raises the chance that rise from 0.8551 has completed. In any case, deeper decline is now in favor as long as 0.9000 resistance holds. Next target is 61.8% retracement of 0.8551 to 0.9243 at 0.8815 next. Sustained break there will pave the way to retest 0.8551 low.

In the bigger picture, the firm break of 55 D EMA (now at 0.8974) argues that rebound from 0.8551 might be completed as a correction at 0.9243. In other words, larger fall from 1.0146 (2022 high) is possibly not over yet. Risk will now stay on the downside as long as 0.9243 resistance holds. Firm break of 0.8551 will confirm down trend resumption.

In the long term picture, there is no clear sign that down trend from 1.8305 (2000 high) has completed. With 38.2% retracement of 1.8305 to 0.7065 at 1.1359 intact, outlook is neutral at best.

Daily Pivots: (S1) 1.2091; (P) 1.2142; (R1) 1.2193; More

Intraday bias in GBP/USD remains neutral for more consolidations. Also, outlook remains bearish with 1.2336 resistance intact. On the downside, decisive break of 1.2036 will resume whole decline from 1.3141 for 1.1801 support next. However, break of 1.2336 will resume the rebound from 1.2036 to 55 D EMA (now at 1.2374).

In the bigger picture, fall from 1.3141 medium term top could still be a correction to up trend from 1.0351 (2022 low) only. But risk of complete trend reversal is rising. Sustained break of 38.2% retracement of 1.0351 to 1.3141 at 1.2075 will pave the way to 61.8% retracement at 1.1417. For now, risk will stay on the downside as long as 55 D EMA (now at 1.2374) holds, in case of rebound.

Daily Pivots: (S1) 1.2091; (P) 1.2142; (R1) 1.2193; More

Consolidation from 1.2026 is still in progress and intraday bias in GBP/USD stays neutral. Also, outlook remains bearish with 1.2336 resistance intact. On the downside, decisive break of 1.2036 will resume whole decline from 1.3141 for 1.1801 support next. However, break of 1.2336 will resume the rebound from 1.2036 to 55 D EMA (now at 1.2374).

In the bigger picture, fall from 1.3141 medium term top could still be a correction to up trend from 1.0351 (2022 low) only. But risk of complete trend reversal is rising. Sustained break of 38.2% retracement of 1.0351 to 1.3141 at 1.2075 will pave the way to 61.8% retracement at 1.1417. For now, risk will stay on the downside as long as 55 D EMA (now at 1.2374) holds, in case of rebound.

Daily Pivots: (S1) 1.2115; (P) 1.2163; (R1) 1.2189; More

Intraday bias in GBP/USD remains neutral for the moment. Consolidation from 1.2026 is still extending, and outlook stays bearish with 1.2336 resistance intact. On the downside, decisive break of 1.2036 will resume whole decline from 1.3141 for 1.1801 support next. However, break of 1.2336 will resume the rebound from 1.2036 to 55 D EMA (now at 1.2383).

In the bigger picture, fall from 1.3141 medium term top could still be a correction to up trend from 1.0351 (2022 low) only. But risk of complete trend reversal is rising. Sustained break of 38.2% retracement of 1.0351 to 1.3141 at 1.2075 will pave the way to 61.8% retracement at 1.1417. For now, risk will stay on the downside as long as 55 D EMA (now at 1.2383) holds, in case of rebound.

Daily Pivots: (S1) 1.2115; (P) 1.2163; (R1) 1.2189; More

Intraday bias in GBP/USD remains neutral as consolidation from 1.2026 is extending. On the downside, decisive break of 1.2036 will resume whole decline from 1.3141 for 1.1801 support next. However, break of 1.2336 will resume the rebound from 1.2036 to 55 D EMA (now at 1.2383).

In the bigger picture, fall from 1.3141 medium term top could still be a correction to up trend from 1.0351 (2022 low) only. But risk of complete trend reversal is rising. Sustained break of 38.2% retracement of 1.0351 to 1.3141 at 1.2075 will pave the way to 61.8% retracement at 1.1417. For now, risk will stay on the downside as long as 55 D EMA (now at 1.2383) holds, in case of rebound.

Daily Pivots: (S1) 1.2137; (P) 1.2178; (R1) 1.2222; More

No change in GBP/USD’s outlook as consolidation from 1.2026 is still extending. Intraday bias remains neutral at this point. On the downside, decisive break of 1.2036 will resume whole decline from 1.3141 for 1.1801 support next. However, break of 1.2336 will resume the rebound from 1.2036 to 55 D EMA (now at 1.2394).

In the bigger picture, fall from 1.3141 medium term top could still be a correction to up trend from 1.0351 (2022 low) only. But risk of complete trend reversal is rising. Sustained break of 38.2% retracement of 1.0351 to 1.3141 at 1.2075 will pave the way to 61.8% retracement at 1.1417. For now, risk will stay on the downside as long as 55 D EMA (now at 1.2394) holds, in case of rebound.

Daily Pivots: (S1) 1.2137; (P) 1.2178; (R1) 1.2222; More

GBP/USD is still extending the consolidation form 1.2036 and intraday bias stays neutral. On the downside, decisive break of 1.2036 will resume whole decline from 1.3141 for 1.1801 support next. However, break of 1.2336 will resume the rebound from 1.2036 to 55 D EMA (now at 1.2394).

In the bigger picture, fall from 1.3141 medium term top could still be a correction to up trend from 1.0351 (2022 low) only. But risk of complete trend reversal is rising. Sustained break of 38.2% retracement of 1.0351 to 1.3141 at 1.2075 will pave the way to 61.8% retracement at 1.1417. For now, risk will stay on the downside as long as 55 D EMA (now at 1.2394) holds, in case of rebound.

Daily Pivots: (S1) 1.2161; (P) 1.2190; (R1) 1.2247; More

Intraday bias in GBP/USD stays neutral and outlook remains bearish with 1.2336 resistance intact. On the downside, decisive break of 1.2036 will resume whole decline from 1.3141 for 1.1801 support next. However, break of 1.2336 will resume the rebound from 1.2036 to 55 D EMA (now at 1.2410).

In the bigger picture, fall from 1.3141 medium term top could still be a correction to up trend from 1.0351 (2022 low) only. But risk of complete trend reversal is rising. Sustained break of 38.2% retracement of 1.0351 to 1.3141 at 1.2075 will pave the way to 61.8% retracement at 1.1417. For now, risk will stay on the downside as long as 55 D EMA (now at 1.2410) holds, in case of rebound.

Daily Pivots: (S1) 1.2161; (P) 1.2190; (R1) 1.2247; More

Intraday bias in GBP/USD is turned neutral again with 4H MACD crossed above signal line. Near term outlook stays bearish with 1.2336 resistance intact. On the downside, decisive break of 1.2036 will resume whole decline from 1.3141 for 1.1801 support next. However, break of 1.2336 will resume the rebound from 1.2036 to 55 D EMA (now at 1.2410).

In the bigger picture, fall from 1.3141 medium term top could still be a correction to up trend from 1.0351 (2022 low) only. But risk of complete trend reversal is rising. Sustained break of 38.2% retracement of 1.0351 to 1.3141 at 1.2075 will pave the way to 61.8% retracement at 1.1417. For now, risk will stay on the downside as long as 55 D EMA (now at 1.2410) holds, in case of rebound.

Daily Pivots: (S1) 1.2104; (P) 1.2164; (R1) 1.2206; More

With 1.2224 minor resistance intact, intraday bias in GBP/USD stays mildly on the downside. Deeper fall would be seen to retest 1.2036 low. Firm break will resume whole decline from 1.3141 for 1.1801 support next. On the upside, above 1.2224 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.2336 resistance holds.

In the bigger picture, fall from 1.3141 medium term top could still be a correction to up trend from 1.0351 (2022 low) only. But risk of complete trend reversal is rising. Sustained break of 38.2% retracement of 1.0351 to 1.3141 at 1.2075 will pave the way to 61.8% retracement at 1.1417. For now, risk will stay on the downside as long as 55 D EMA (now at 1.2418) holds, in case of rebound.

Daily Pivots: (S1) 1.2104; (P) 1.2164; (R1) 1.2206; More

Intraday bias in GBP/USD stays on the downside for retesting 1.2036 low. Firm break will resume whole decline from 1.3141 for 1.1801 support next. On the upside, above 1.2224 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.2336 resistance holds.

In the bigger picture, fall from 1.3141 medium term top could still be a correction to up trend from 1.0351 (2022 low) only. But risk of complete trend reversal is rising. Sustained break of 38.2% retracement of 1.0351 to 1.3141 at 1.2075 will pave the way to 61.8% retracement at 1.1417. For now, risk will stay on the downside as long as 55 D EMA (now at 1.2418) holds, in case of rebound.

GBP/USD’s rebound from 1.2036 extended higher last week but was rejected by near term falling channel resistance, and fell notably since then. Initial bias remains on the downside this week for retesting 1.2036. Firm break will resume whole decline from 1.3141 for 1.1801 support next. On the upside, above 1.2224 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.2336 resistance holds.

In the bigger picture, fall from 1.3141 medium term top could still be a correction to up trend from 1.0351 (2022 low) only. But risk of complete trend reversal is rising. Sustained break of 38.2% retracement of 1.0351 to 1.3141 at 1.2075 will pave the way to 61.8% retracement at 1.1417. For now, risk will stay on the downside as long as 55 D EMA (now at 1.2418) holds, in case of rebound.

In the long term picture, there is no clear sign of trend reversal yet. Rise from 1.0351 could be part of a consolidation pattern to down trend from 2.1161 (2007 high). Rejection by 55 M EMA (now at 1.2900) will retain long term bearishness for extending the down trend at a later stage.

Daily Pivots: (S1) 1.2121; (P) 1.2226; (R1) 1.2281; More

Intraday bias in GBP/USD remains mildly on the downside at this point. Recovery from 1.2035 should have completed at 1.2336, after hitting falling channel resistance. Deeper decline would be seen to retest 1.2036 low. Decisive break there will resume larger fall from 1.3141. On the upside, above 1.2336 minor resistance will resume the rebound instead.

In the bigger picture, fall from 1.3141 medium term top could still be a correction to up trend from 1.0351 (2022 low) only. But risk of complete trend reversal is rising. Sustained break of 38.2% retracement of 1.0351 to 1.3141 at 1.2075 will pave the way to 61.8% retracement at 1.1417. For now, risk will stay on the downside as long as 55 D EMA (now at 1.2420) holds, in case of rebound.

Daily Pivots: (S1) 1.2121; (P) 1.2226; (R1) 1.2281; More

GBP/USD’s break of 1.2210 minor support suggests that recovery from 1.2036 has completed at 1.2336, after hitting falling channel resistance. Intraday bias is back on the downside for retesting 1.2036 low. Decisive break there will resume larger fall from 1.3141. On the upside, above 1.2336 minor resistance will resume the rebound instead.

In the bigger picture, fall from 1.3141 medium term top could still be a correction to up trend from 1.0351 (2022 low) only. But risk of complete trend reversal is rising. Sustained break of 38.2% retracement of 1.0351 to 1.3141 at 1.2075 will pave the way to 61.8% retracement at 1.1417. For now, risk will stay on the downside as long as 55 D EMA (now at 1.2420) holds, in case of rebound.