Wed, Oct 16, 2019 @ 00:28 GMT

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2573; (P) 1.2626; (R1) 1.2710; More

The breach of 1.2673 suggests that GBP/USD’s rebound from 1.1986 is resuming. Intraday bias is back on the upside for 1.2774 resistance. Still, such rise is seen as the third leg of the consolidation pattern from 1.1946. Hence, we’d expect strong resistance from 1.2774 to limit upside and bring down trend resumption eventually. On the downside, firm break of 1.2411 minor support will argue that it’s completed and turn bias to the downside for 1.1946 low.

In the bigger picture, fall from 1.7190 is seen as part of the down trend from 2.1161. There is no sign of medium term bottoming yet. Sustained trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish.

GBP/USD 4 Hours Chart

GBP/USD Daily Chart

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GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2460; (P) 1.2528; (R1) 1.2644; More

GBP/USD rebounds further today but stays below 1.2673 so far. Intraday bias remains neutral. Overall, rise from 1.1986 is seen as the third leg of the consolidation pattern from 1.1946. Above 1.2673 will turn bias to the upside and extend such rise towards 1.2774 resistance. We’d expect strong resistance from there to limit upside and bring down trend resumption eventually. On the downside, firm break of 1.2414 minor support will argue that it’s completed and turn bias to the downside for 1.1946 low.

In the bigger picture, fall from 1.7190 is seen as part of the down trend from 2.1161. There is no sign of medium term bottoming yet. Sustained trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish.

GBP/USD 4 Hours Chart

GBP/USD Daily Chart

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GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2460; (P) 1.2528; (R1) 1.2644; More

Intraday bias in GBP/USD remains neutral for the moment as it rebounded from 1.2414 support. Overall, rise from 1.1986 is seen as the third leg of the consolidation pattern from 1.1946. Above 1.2673 will turn bias to the upside and extend such rise towards 1.2774 resistance. We’d expect strong resistance from there to limit upside and bring down trend resumption eventually. On the downside, firm break of 1.2414 minor support will argue that it’s completed and turn bias to the downside for 1.1946 low.

In the bigger picture, fall from 1.7190 is seen as part of the down trend from 2.1161. There is no sign of medium term bottoming yet. Sustained trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish.

GBP/USD 4 Hours Chart

GBP/USD Daily Chart

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GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2435; (P) 1.2517; (R1) 1.2570; More

GBP/USD breaches 1.2414 minor support briefly but quickly recovered. Intraday bias stays neutral first. Rise from 1.1986 is seen as the third leg of the consolidation pattern from 1.1946. On the downside, firm break of 1.2414 minor support will argue that it’s completed and turn bias to the downside for 1.1946 low. In case of another rise, we’d expect strong resistance at 1.2774 to limit upside and bring down trend resumption eventually.

In the bigger picture, fall from 1.7190 is seen as part of the down trend from 2.1161. There is no sign of medium term bottoming yet. Sustained trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish.

GBP/USD 4 Hours Chart

GBP/USD Daily Chart

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GBP/USD Daily Outlook


GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2435; (P) 1.2517; (R1) 1.2570; More

At this point, GBP/USD is staying in range of 1.2414/2673 and intraday bias remains neutral. Rise from 1.1986 is seen as the third leg of the consolidation pattern from 1.1946. Break of 1.2414 minor support will argue that it’s completed and turn bias to the downside for 1.1946 low. In case of another rise, we’d expect strong resistance at 1.2774 to limit upside and bring down trend resumption eventually.

In the bigger picture, fall from 1.7190 is seen as part of the down trend from 2.1161. There is no sign of medium term bottoming yet. Sustained trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish.

GBP/USD 4 Hours Chart

GBP/USD Daily Chart

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GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2506; (P) 1.2555; (R1) 1.2596; More

GBP/USD’s fall from 1.2673 extends but it stays above 1.2414 minor support so far. Intraday bias remains neutral first. Rise from 1.1986 is seen as the third leg of the consolidation pattern from 1.1946. Break of 1.2414 minor support will argue that it’s completed and turn bias to the downside for 1.1946 low. In case of another rise, we’d expect strong resistance at 1.2774 to limit upside and bring down trend resumption eventually.

In the bigger picture, fall from 1.7190 is seen as part of the down trend from 2.1161. There is no sign of medium term bottoming yet. Sustained trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish.

GBP/USD 4 Hours Chart

GBP/USD Daily Chart

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GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2506; (P) 1.2555; (R1) 1.2596; More

Intraday bias in GBP/USD remains neutral at this point. Rise from 1.1986 is seen as the third leg of the consolidation pattern from 1.1946. Break of 1.2414 minor support will argue that it’s completed and turn bias to the downside for 1.1946 low. In case of another rise, we’d expect strong resistance at 1.2774 to limit upside and bring down trend resumption eventually.

In the bigger picture, fall from 1.7190 is seen as part of the down trend from 2.1161. There is no sign of medium term bottoming yet. Sustained trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish.

GBP/USD 4 Hours Chart

GBP/USD Daily Chart

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GBP/USD Weekly Outlook

GBP/USD rose further to as high as 1.2673 last week but lost momentum since then. Initial bias stays neutral this week first. Rise from 1.1986 is seen as the third leg of the consolidation pattern from 1.1946. Hence, in case of another rise, we’d expect strong resistance at 1.2774 to limit upside and bring down trend resumption eventually. On the downside, break of 1.2414 will argue that rise from 1.1986 is completed and turn bias to the downside for 1.1946 low.

In the bigger picture, fall from 1.7190 is seen as part of the down trend from 2.1161. There is no sign of medium term bottoming yet. Sustained trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish.

In the longer term picture, no change in the view that down trend from 2.1161 is still in progress. Current momentum suggests that the down trend will go deeper than originally expected.

GBP/USD 4 Hours Chart

GBP/USD Daily Chart

GBP/USD Weekly Chart

GBP/USD Monthly Chart

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GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2540; (P) 1.2607; (R1) 1.2657; More

Intraday bias in GBP/USD remains neutral at this point. Rise from 1.1986 is seen as the third leg of the consolidation pattern from 1.1946. Break of 1.2414 support will indicate that it’s completed and turn bias to the downside for retesting 1.1946 low. In case of another rise, upside should be limited by 1.2774 to limit upside and bring down trend resumption eventually.

In the bigger picture, fall from 1.7190 is seen as part of the down trend from 2.1161. There is no sign of medium term bottoming yet. Sustained trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish.

GBP/USD 4 Hours Chart

GBP/USD Daily Chart

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GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2540; (P) 1.2607; (R1) 1.2657; More

Intraday bias in GBP/USD is turned neutral with a temporary top in place at 1.2673. Rise from 1.1986 is seen as the third leg of the consolidation pattern from 1.1946. Break of 1.2414 support will indicate that it’s completed and turn bias to the downside for retesting 1.1946 low. In case of another rise, upside should be limited by 1.2774 to limit upside and bring down trend resumption eventually.

In the bigger picture, fall from 1.7190 is seen as part of the down trend from 2.1161. There is no sign of medium term bottoming yet. Sustained trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish.

GBP/USD 4 Hours Chart

GBP/USD Daily Chart

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GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2535; (P) 1.2586; (R1) 1.2683; More

With 1.2414 minor support intact, rebound from 1.1986 could still extend higher. But again, such rise is seen as the third leg of the consolidation pattern from 1.1946. We’d expect strong resistance at 1.2774 to limit upside and bring down trend resumption eventually. On the downside, below 1.2414 minor support will turn bias to the downside for retesting 1.1946 low.

In the bigger picture, fall from 1.7190 is seen as part of the down trend from 2.1161. There is no sign of medium term bottoming yet. Sustained trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish.

GBP/USD 4 Hours Chart

GBP/USD Daily Chart

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GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2535; (P) 1.2586; (R1) 1.2683; More

GBP/USD reaches as high as 1.2662 so far as rebound from 1.1986 extends. Intraday bias stays on the upside for 1.2774 resistance. Again, rise from 1.1986 is seen as the third leg of the consolidation pattern from 1.1946. We’d expect strong resistance at 1.2774 to limit upside and bring down trend resumption eventually. On the downside, below 1.2414 minor support will turn bias to the downside for retesting 1.1946 low.

In the bigger picture, fall from 1.7190 is seen as part of the down trend from 2.1161. There is no sign of medium term bottoming yet. Sustained trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish.

GBP/USD 4 Hours Chart

GBP/USD Daily Chart

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GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2422; (P) 1.2480; (R1) 1.2591; More

GBP/USD’s rebound from 1.1986 resumed and reaches as high as 1.2605 so far. Intraday bias is back on the upside for 1.2774 resistance next. Again, rise from 1.1986 is seen as the third leg of the consolidation pattern from 1.1946. We’d expect strong resistance at 1.2774 to limit upside and bring down trend resumption eventually. On the downside, below 1.2414 minor support will turn bias to the downside for retesting 1.1946 low.

In the bigger picture, fall from 1.7190 is seen as part of the down trend from 2.1161. There is no sign of medium term bottoming yet. Sustained trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish.

GBP/USD 4 Hours Chart

GBP/USD Daily Chart

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GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2422; (P) 1.2480; (R1) 1.2591; More

Intraday bias in GBP/USD remains neutral for the moment. Overall, rise from 1.1986 is seen as the third leg of the consolidation pattern from 1.1946. Above 1.2543 will extend the rebound but we’d expect strong resistance at 1.2774 to limit upside and bring down trend resumption eventually. On the downside, below 1.2252 minor support will turn bias to the downside for retesting 1.1946 low.

In the bigger picture, fall from 1.7190 is seen as part of the down trend from 2.1161. There is no sign of medium term bottoming yet. Sustained trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish.

GBP/USD 4 Hours Chart

GBP/USD Daily Chart

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GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2422; (P) 1.2480; (R1) 1.2591; More

Intraday bias in GBP/USD is turned neutral again with 4 hour MACD turned below signal line. Overall, rise from 1.1986 is seen as the third leg of the consolidation pattern from 1.1946. Above 1.2543 will extend the rebound but we’d expect strong resistance at 1.2774 to limit upside and bring down trend resumption eventually. On the downside, below 1.2252 minor support will turn bias to the downside for retesting 1.1946 low.

In the bigger picture, fall from 1.7190 is seen as part of the down trend from 2.1161. There is no sign of medium term bottoming yet. Sustained trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish.

GBP/USD 4 Hours Chart

GBP/USD Daily Chart

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GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2422; (P) 1.2480; (R1) 1.2591; More

GBP/USD’s rebound from 1.1986 is still in progress and reaches as high as 1.2543 so far. Intraday bias remains on the upside for 1.2774 resistance. As noted before, such rise is seen as the third leg of the consolidation pattern from 1.1946. Thus, we’d expect strong resistance at 1.2774 to limit upside and bring down trend resumption eventually. On the downside, below 1.2252 minor support will turn bias to the downside for retesting 1.1946 low.

In the bigger picture, fall from 1.7190 is seen as part of the down trend from 2.1161. There is no sign of medium term bottoming yet. Sustained trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish.

GBP/USD 4 Hours Chart

GBP/USD Daily Chart

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GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2295; (P) 1.2337; (R1) 1.2415; More

Intraday bias in GBP/USD remains mildly on the upside as rebound from 1.1986 continues. But still, such rise is seen as the third leg of the consolidation pattern from 1.1946. Thus, we’d expect strong resistance at 1.2774 to limit upside and bring down trend resumption eventually. On the downside, below 1.2188 minor support will turn bias to the downside for retesting 1.1946 low.

In the bigger picture, fall from 1.7190 is seen as part of the down trend from 2.1161. There is no sign of medium term bottoming yet. Sustained trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish.

GBP/USD 4 Hours Chart

GBP/USD Daily Chart

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GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2295; (P) 1.2337; (R1) 1.2415; More

GBP/USD’s rebound from 1.1986 resumes today and breaches 1.2432 resistance. Intraday bias is mildly on the upside for further rise. But still, such rise is seen as the third leg of the consolidation pattern from 1.1946. Thus, we’d expect strong resistance at 1.2774 to limit upside and bring down trend resumption eventually. On the downside, below 1.2188 minor support will turn bias to the downside for retesting 1.1946 low.

In the bigger picture, fall from 1.7190 is seen as part of the down trend from 2.1161. There is no sign of medium term bottoming yet. Sustained trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish.

GBP/USD 4 Hours Chart

GBP/USD Daily Chart

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GBP/USD Weekly Outlook

GBP/USD’s rebound form 1.1986 lost some momentum ahead of 1.2432 resistance. Initial bias stays neutral this week first. With 1.2188 minor support intact, rebound from 1.1986 could extend higher through 1.2432. But still, such rise is seen as the third leg of the consolidation pattern from 1.1946. Thus, we’d expect strong resistance at 1.2774 to limit upside and bring down trend resumption eventually. On the downside, below 1.2188 minor support will turn bias to the downside for retesting 1.1946 low.

In the bigger picture, fall from 1.7190 is seen as part of the down trend from 2.1161. There is no sign of medium term bottoming yet. Sustained trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish.

In the longer term picture, no change in the view that down trend from 2.1161 is still in progress. Current momentum suggests that the down trend will go deeper than originally expected.

GBP/USD 4 Hours Chart

GBP/USD Daily Chart

GBP/USD Weekly Chart

GBP/USD Monthly Chart

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GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.2280; (P) 1.2311; (R1) 1.2371; More

With 1.2188 minor support intact, rebound from 1.1986 could extend higher through 1.2432 resistance. But still, such rise is seen as the third leg of the consolidation pattern from 1.1946. Thus, we’d expect strong resistance at 1.2774 to limit upside and bring down trend resumption eventually. On the downside, below 1.2188 minor support will turn bias to the downside for retesting 1.1946 low.

In the bigger picture, fall from 1.7190 is seen as part of the down trend from 2.1161. There is no sign of medium term bottoming yet. Sustained trading below 61.8% projection of 2.1161 to 1.3503 from 1.7190 at 1.2457 will target 100% projection at 0.9532. Overall, break of 1.3444 resistance is needed to confirm medium term bottoming. Otherwise, outlook will remain bearish.

GBP/USD 4 Hours Chart

GBP/USD Daily Chart

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