GBP/USD’s late rebound and breach of 1.3549 resistance suggests that fall from 1.3594 has completed as a corrective pullback. Rise from 1.3140 should be ready to resume. Initial bias is now on the upside this week. Break of 1.3594 will target a retest on 1.3787 high. For now, risk will stay on the upside as long as 1.3332 support holds, in case of retreat.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3118) holds, even in case of deep pullback.

In the long term picture, for now, price actions from 1.0351 (2022 low) are still seen as a corrective pattern to the long term down trend from 2.1161 (2007 high) only. However, firm break of 1.4248 resistance (38.2% retracement of 2.1161 to 1.0351 at 1.4480) will be a strong sign of long term bullish reversal.

Daily Pivots: (S1) 1.3415; (P) 1.3437; (R1) 1.3457; More…

Immediate focus is back on 1.3549 as GBP/USD’s rebound accelerates higher. Firm break there will resume the rise from 1.3140 through 1.3594 resistance for retesting 1.3787 high. For now, risk will be on the upside as long as 1.3332 support holds, in case of retreat.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3104) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3415; (P) 1.3437; (R1) 1.3457; More…

Intraday bias in GBP/USD remains neutral for the moment. Corrective pattern from 1.3787 could extend further. On the downside, below 1.3332 will bring deeper pullback. But downside should be contained by 38.2% retracement of 1.2099 to 1.3787 at 1.3142. On the upside, break of 1.3549 resistance should resume the rebound from 1.3140 towards 1.3787 high.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3104) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3365; (P) 1.3412; (R1) 1.3489; More…

Intraday bias in GBP/USD stays neutral at this point. Overall outlook is unchanged that corrective pattern from 1.3787 is extending. Below 1.3332 will bring deeper pullback. But downside should be contained by 38.2% retracement of 1.2099 to 1.3787 at 1.3142. On the upside, break of 1.3549 resistance should resume the rebound from 1.3140 towards 1.3787 high.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3104) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3365; (P) 1.3412; (R1) 1.3489; More…

Intraday bias in GBP/USD remains neutral for the moment. Overall outlook is unchanged that corrective pattern from 1.3787 is extending. Below 1.3332 will bring deeper pullback. But downside should be contained by 38.2% retracement of 1.2099 to 1.3787 at 1.3142. On the upside, break of 1.3549 resistance should resume the rebound from 1.3140 towards 1.3787 high.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3104) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3306; (P) 1.3428; (R1) 1.3515; More…

GBP/USD recovered after dipping to 1.3332 and intraday bias is turned neutral first. Overall outlook is unchanged that corrective pattern from 1.3787 is extending. Below 1.3332 will bring deeper pullback. But downside should be contained by 38.2% retracement of 1.2099 to 1.3787 at 1.3142. On the upside, break of 1.3549 resistance should resume the rebound from 1.3140 towards 1.3787 high.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3104) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3306; (P) 1.3428; (R1) 1.3515; More…

Intraday bias in GBP/USD remains on the downside for the moment. Corrective pattern from 1.3787 is extending with another falling leg. Deeper decline would be seen back to 1.3140 support. But downside should be contained by 38.2% retracement of 1.2099 to 1.3787 at 1.3142. But still, for now, risk will stay mildly on the downside as long as 1.3459 resistance holds, in case of recovery.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3104) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3510; (P) 1.3530; (R1) 1.3566; More…

GBP/USD’s fall from 1.3594 resumed by diving through 1.3389 support and intraday bias is back on the downside. Corrective pattern from 1.3787 is extending with another falling leg. Deeper decline would be seen back to 1.3140 support. But downside should be contained by 38.2% retracement of 1.2099 to 1.3787 at 1.3142. But still, for now, risk will stay mildly on the downside as long as 1.3459 resistance holds, in case of recovery.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3104) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3510; (P) 1.3530; (R1) 1.3566; More…

GBP/USD is still bounded in range below 1.3594 and intraday bias stays neutral. With 1.3389 support intact, further rally is in favor. On the upside, above 1.3594 will resume the rebound from 1.3140 to retest 1.3787 high. On the downside, however, break of 1.3389 support will extend the corrective pattern from 1.3787 with another fall, and target 1.3140 support.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3104) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3459; (P) 1.3490; (R1) 1.3534; More…

Range trading continues in GBP/USD and intraday bias remains neutral. With 1.3389 support intact, further rally is in favor. On the upside, above 1.3594 will resume the rebound from 1.3140 to retest 1.3787 high. On the downside, however, break of 1.3389 support will extend the corrective pattern from 1.3787 with another fall, and target 1.3140 support.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3104) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3459; (P) 1.3490; (R1) 1.3534; More…

Intraday bias in GBP/USD stays neutral for the moment. With 1.3389 support intact, further rally is in favor. On the upside, above 1.3594 will resume the rebound from 1.3140 to retest 1.3787 high. On the downside, however, break of 1.3389 support will extend the corrective pattern from 1.3787 with another fall, and target 1.3140 support.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3104) holds, even in case of deep pullback.

GBP/USD stayed in range of 1.3389/3594 last week as it turned into sideway trading. Initial bias remains neutral this week first. Further rally is mildly in favor as long as 1.3389 support holds. Above 1.3594 will resume the rebound from 1.3140 to retest 1.3787 high. On the downside, however, break of 1.3389 support will extend the corrective pattern from 1.3787 with another fall, and target 1.3140 support.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3104) holds, even in case of deep pullback.

In the long term picture, for now, price actions from 1.0351 (2022 low) are still seen as a corrective pattern to the long term down trend from 2.1161 (2007 high) only. However, firm break of 1.4248 resistance (38.2% retracement of 2.1161 to 1.0351 at 1.4480) will be a strong sign of long term bullish reversal.

Daily Pivots: (S1) 1.3486; (P) 1.3509; (R1) 1.3534; More…

GBP/USD is still bounded in established range and intraday bias remains neutral. Further rally is mildly in favor as long as 1.3389 support holds. Above 1.3594 will resume the rebound from 1.3140 to retest 1.3787 high. On the downside, however, break of 1.3389 support will extend the corrective pattern from 1.3787 with another fall, and target 1.3140 support.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3073) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3486; (P) 1.3509; (R1) 1.3534; More…

Range trading continues in GBP/USD and intraday bias stays neutral. Further rally is mildly in favor as long as 1.3389 support holds. Above 1.3594 will resume the rebound from 1.3140 to retest 1.3787 high. On the downside, however, break of 1.3389 support will extend the corrective pattern from 1.3787 with another fall, and target 1.3140 support.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3073) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3443; (P) 1.3473; (R1) 1.3528; More…

Range trading continues in GBP/USD and intraday bias stays neutral. Further rally is in favor with 1.3389 support intact. On the upside, above 1.3594 will resume the rebound from 1.3140 to retest 1.3787 high. On the downside, however, break of 1.3389 support will extend the corrective pattern from 1.3787 with another fall, and target 1.3140 support.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3073) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3443; (P) 1.3473; (R1) 1.3528; More…

Intraday bias in GBP/USD remains neutral and further rise is mildly in favor as long as 1.3389 support holds. Above 1.3594 will resume the rebound from 1.3140 to retest 1.3787 high. On the downside, however, break of 1.3389 support will extend the corrective pattern from 1.3787 with another fall, and target 1.3140 support.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3073) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3444; (P) 1.3469; (R1) 1.3504; More…

Intraday bias in GBP/USD stays neutral for the moment. Overall, price actions from 1.3787 high are seen as a corrective pattern. On the upside, break of 1.3594 will resume the rebound from 1.3140 to retest 1.3787 high. Firm break there will resume the larger up trend. However, break of 1.3389 will bring deeper fall towards 1.3140 to extend the corrective pattern.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3073) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3444; (P) 1.3469; (R1) 1.3504; More…

Range trading continues in GBP/USD and intraday bias remains neutral at this point. Overall, price actions from 1.3787 high are seen as a corrective pattern. On the upside, break of 1.3594 will resume the rebound from 1.3140 to retest 1.3787 high. Firm break there will resume the larger up trend. However, break of 1.3389 will bring deeper fall towards 1.3140 to extend the corrective pattern.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3073) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3422; (P) 1.3478; (R1) 1.3510; More…

Intraday bias in GBP/USD remains neutral as sideway trading continues. Overall, price actions from 1.3787 high are seen as a corrective pattern. On the upside, break of 1.3594 will resume the rebound from 1.3140 to retest 1.3787 high. Firm break there will resume the larger up trend. However, break of 1.3389 will bring deeper fall towards 1.3140 to extend the corrective pattern.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3073) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3422; (P) 1.3478; (R1) 1.3510; More…

Range trading continues in GBP/USD inside 1.3389/3594 and intraday bias stays neutral. Overall, price actions from 1.3787 high are seen as a corrective pattern. On the upside, break of 1.3594 will resume the rebound from 1.3140 to retest 1.3787 high. Firm break there will resume the larger up trend. However, break of 1.3389 will bring deeper fall towards 1.3140 to extend the corrective pattern.

In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.3073) holds, even in case of deep pullback.