Daily Pivots: (S1) 1.3834; (P) 1.3886; (R1) 1.3985; More….

Intraday bias in GBP/USD remains neutral for consolidation above 1.3785 temporary low. On the downside, break of 1.3785 will resume the fall from 1.3785, as third leg of consolidation pattern from 1.4240, to 1.3668 support and below. On the upside, sustained break of 4 hour 55 EMA (now at 1.3996) will bring retest of 1.4240/8 resistance zone instead.

In the bigger picture, as long as 1.3482 resistance turned support holds, up trend from 1.1409 should still continue. Decisive break of 1.4376 resistance will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. However, firm break of 1.3482 support will argue that the rise from 1.1409 has completed and bring deeper fall to 1.2675 support and below.

Daily Pivots: (S1) 1.3746; (P) 1.3845; (R1) 1.3899; More….

A temporary low is formed at 1.3785 in GBP/USD with current recovery. Intraday bias is turned neutral for the moment. Deeper fall is still expected as long as 4 hour 55 EMA (now at 1.4008) holds. Current decline from 1.4248 is seen as the third leg of the consolidation pattern from 1.4240. Below 1.3785 will target 1.3668 support and below. However, sustained break of the 4 hour 55 EMA will bring stronger rise back to retest 1.4240/8 resistance zone.

In the bigger picture, as long as 1.3482 resistance turned support holds, up trend from 1.1409 should still continue. Decisive break of 1.4376 resistance will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. However, firm break of 1.3482 support will argue that the rise from 1.1409 has completed and bring deeper fall to 1.2675 support and below.

Daily Pivots: (S1) 1.3746; (P) 1.3845; (R1) 1.3899; More….

Intraday bias in GBP/USD remains on the downside at this point. Fall from 1.4248 is seen as the third leg of the consolidation pattern from 1.4240. Deeper fall would be seen to 1.3668 support and below. On the upside, above 1.3909 minor resistance will turn intraday bias neutral and bring recovery first, before staging another decline.

In the bigger picture, as long as 1.3482 resistance turned support holds, up trend from 1.1409 should still continue. Decisive break of 1.4376 resistance will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. However, firm break of 1.3482 support will argue that the rise from 1.1409 has completed and bring deeper fall to 1.2675 support and below.

GBP/USD’s sharp decline last week confirmed that consolidation pattern from 1.4240 has started the third leg. Initial bias remains on the downside this week for 1.3668 low and below. On the upside, above 1.3944 minor resistance will turn intraday bias neutral and bring recovery first, before staging another decline.

In the bigger picture, as long as 1.3482 resistance turned support holds, up trend from 1.1409 should still continue. Decisive break of 1.4376 resistance will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. However, firm break of 1.3482 support will argue that the rise from 1.1409 has completed and bring deeper fall to 1.2675 support and below.

In the longer term picture, a long term bottom should be in place at 1.1409, on bullish convergence condition in monthly MACD. Rise from there would target 38.2% retracement of 2.1161 to 1.1409 at 1.5134. Reaction from there would reveal whether rise from 1.1409 is just a correction, or developing into a long term up trend.

Daily Pivots: (S1) 1.3878; (P) 1.3944; (R1) 1.3991; More….

GBP/USD falls to as low as 1.3849 so far today and intraday bias remains on the downside. Current fall from 1.4248 is seen as the third leg of the consolidation pattern from 1.4240. Deeper decline would be seen to 1.3668 support. On the upside, above 1.3944 minor resistance will turn intraday bias neutral and bring recovery first, before staging another decline.

In the bigger picture, as long as 1.3482 resistance turned support holds, up trend from 1.1409 should still continue. Decisive break of 1.4376 resistance will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. However, firm break of 1.3482 support will argue that the rise from 1.1409 has completed and bring deeper fall to 1.2675 support and below.

Daily Pivots: (S1) 1.3878; (P) 1.3944; (R1) 1.3991; More….

Intraday bias in GBP/USD stays on the downside for the moment. Current fall from 1.4248 is seen as the third leg of the consolidation pattern from 1.4240. Deeper decline would be seen to 1.3668/3800 support zone. On the upside, above 1.4007 minor resistance will turn intraday bias neutral and bring recovery first, before staging another decline.

In the bigger picture, as long as 1.3482 resistance turned support holds, up trend from 1.1409 should still continue. Decisive break of 1.4376 resistance will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. However, firm break of 1.3482 support will argue that the rise from 1.1409 has completed and bring deeper fall to 1.2675 support and below.

Daily Pivots: (S1) 1.3933; (P) 1.4033; (R1) 1.4084; More….

Intraday bias in GBP/USD remains on the downside at this point. Current fall is seen as the third leg of the consolidation pattern from 1.4240. Deeper decline would be seen to 1.3668/3800 support zone. On the upside, above 1.4033 minor resistance will turn intraday bias neutral and bring recovery first, before staging another decline.

In the bigger picture, as long as 1.3482 resistance turned support holds, up trend from 1.1409 should still continue. Decisive break of 1.4376 resistance will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. However, firm break of 1.3482 support will argue that the rise from 1.1409 has completed and bring deeper fall to 1.2675 support and below.

Daily Pivots: (S1) 1.3933; (P) 1.4033; (R1) 1.4084; More….

GBP/USD’s fall from 1.4248 resumed after brief recovery and intraday bias is back on the downside. Current development affirms the case that it’s now in the third leg in the consolidation pattern from 1.4248. Intraday bias is back on the downside for 1.3668/3800 support zone. On the upside, above 1.4131 minor resistance will turn bias back to the upside for 1.4248 resistance again.

In the bigger picture, as long as 1.3482 resistance turned support holds, up trend from 1.1409 should still continue. Decisive break of 1.4376 resistance will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. However, firm break of 1.3482 support will argue that the rise from 1.1409 has completed and bring deeper fall to 1.2675 support and below.

Daily Pivots: (S1) 1.4036; (P) 1.4083; (R1) 1.4131; More…

Intraday bias in GBP/USD is turned neutral with today’s recovery and break of 1.4127 minor resistance. On the downside, break of 1.4033 will target 1.4008 resistance turned support. Sustained break there should confirm that consolidation pattern from 1.4240 has started the third leg. On the upside, though, break of 1.4248 will resume larger up trend from 1.1409.

In the bigger picture, as long as 1.3482 resistance turned support holds, up trend from 1.1409 should still continue. Decisive break of 1.4376 resistance will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. However, firm break of 1.3482 support will argue that the rise from 1.1409 has completed and bring deeper fall to 1.2675 support and below.

Daily Pivots: (S1) 1.4036; (P) 1.4083; (R1) 1.4131; More…

Intraday bias in GBP/USD remains mildly on the downside at this point. Fall from 1.4248 is in progress for 1.4008 resistance turned support first. Such decline could be the third leg of the pattern from 1.4240. Break of 1.4008 will target 1.3668/3800 support zone. On the upside, above 1.4127 minor resistance will turn intraday bias neutral first.

In the bigger picture, as long as 1.3482 resistance turned support holds, up trend from 1.1409 should still continue. Decisive break of 1.4376 resistance will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. However, firm break of 1.3482 support will argue that the rise from 1.1409 has completed and bring deeper fall to 1.2675 support and below.

Daily Pivots: (S1) 1.4077; (P) 1.4100; (R1) 1.4130; More…

GBP/USD’s break of 1.4072 support suggests resumption of fall from 1.4248. Such decline could be the third leg of the pattern from 1.4240. Intraday bias is back on the downside for 1.4008 resistance turned support first. Break till target 1.3668/3800 support zone. On the upside, above 1.4127 minor resistance will turn intraday bias neutral first.

In the bigger picture, as long as 1.3482 resistance turned support holds, up trend from 1.1409 should still continue. Decisive break of 1.4376 resistance will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. However, firm break of 1.3482 support will argue that the rise from 1.1409 has completed and bring deeper fall to 1.2675 support and below.

Daily Pivots: (S1) 1.4077; (P) 1.4100; (R1) 1.4130; More…

Intraday bias in GBP/USD remains neutral at this point. On the upside, sustained break of 1.4240 resistance will resume larger up trend from 1.1409, for 1.4376 key resistance next. On the downside, however, firm break of 1.4072 support will extend the consolidation from 1.4240 with another falling leg. Intraday bias will be turned back to the downside for 1.4008 resistance turned support first.

In the bigger picture, as long as 1.3482 resistance turned support holds, up trend from 1.1409 should still continue. Decisive break of 1.4376 resistance will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. However, firm break of 1.3482 support will argue that the rise from 1.1409 has completed and bring deeper fall to 1.2675 support and below.

Daily Pivots: (S1) 1.4078; (P) 1.4131; (R1) 1.4167; More…

GBP/USD is holding above 1.4072 support despite breaching briefly. Intraday bias remains neutral first. On the upside, sustained break of 1.4240 resistance will resume larger up trend from 1.1409, for 1.4376 key resistance next. On the downside, however, firm break of 1.4072 support will extend the consolidation from 1.4240 with another falling leg. Intraday bias will be turned back to the downside for 1.4008 resistance turned support first.

In the bigger picture, as long as 1.3482 resistance turned support holds, up trend from 1.1409 should still continue. Decisive break of 1.4376 resistance will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. However, firm break of 1.3482 support will argue that the rise from 1.1409 has completed and bring deeper fall to 1.2675 support and below.

Daily Pivots: (S1) 1.4107; (P) 1.4143; (R1) 1.4211; More…

Intraday bias in GBP/USD remains neutral as range trading continues. On the upside, sustained break of 1.4240 resistance will resume larger up trend from 1.1409, for 1.4376 key resistance next. On the downside, however, firm break of 1.4072 support will extend the consolidation from 1.4240 with another falling leg. Intraday bias will be turned back to the downside for 1.4008 resistance turned support first.

In the bigger picture, as long as 1.3482 resistance turned support holds, up trend from 1.1409 should still continue. Decisive break of 1.4376 resistance will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. However, firm break of 1.3482 support will argue that the rise from 1.1409 has completed and bring deeper fall to 1.2675 support and below.

GBP/USD stayed in consolidation below 1.4248 last week and outlook is unchanged. Initial bias remains neutral this week first. On the upside, sustained break of 1.4240 resistance will resume larger up trend from 1.1409, for 1.4376 key resistance next. On the downside, however, firm break of 1.4072 support will extend the consolidation from 1.4240 with another falling leg. Intraday bias will be turned back to the downside for 1.4008 resistance turned support first.

In the bigger picture, as long as 1.3482 resistance turned support holds, up trend from 1.1409 should still continue. Decisive break of 1.4376 resistance will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. However, firm break of 1.3482 support will argue that the rise from 1.1409 has completed and bring deeper fall to 1.2675 support and below.

In the longer term picture, a long term bottom should be in place at 1.1409, on bullish convergence condition in monthly MACD. Rise from there would target 38.2% retracement of 2.1161 to 1.1409 at 1.5134. Reaction from there would reveal whether rise from 1.1409 is just a correction, or developing into a long term up trend.

Daily Pivots: (S1) 1.4107; (P) 1.4143; (R1) 1.4211; More…

GBP/USD is still bounded in range of 1.4072/4248 and intraday bias remains neutral first. On the upside, sustained break of 1.4240 will resume larger up trend from 1.1409, for 1.4376 key resistance next. On the downside, however, firm break of 1.4072 will extend the consolidation from 1.4240 with another falling leg. Intraday bias will be turned back to the downside for 1.4008 resistance turned support first.

In the bigger picture, as long as 1.3482 resistance turned support holds, up trend from 1.1409 should still continue. Decisive break of 1.4376 resistance will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. However, firm break of 1.3482 support will argue that the rise from 1.1409 has completed and bring deeper fall to 1.2675 support and below.

Daily Pivots: (S1) 1.4107; (P) 1.4143; (R1) 1.4211; More…

Intraday bias in GBP/USD remains neutral for the moment. On the upside, sustained break of 1.4240 will resume larger up trend from 1.1409, for 1.4376 key resistance next. On the downside, however, firm break of 1.4072 will extend the consolidation from 1.4240 with another falling leg. Intraday bias will be turned back to the downside for 1.4008 resistance turned support first.

In the bigger picture, as long as 1.3482 resistance turned support holds, up trend from 1.1409 should still continue. Decisive break of 1.4376 resistance will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. However, firm break of 1.3482 support will argue that the rise from 1.1409 has completed and bring deeper fall to 1.2675 support and below.

Daily Pivots: (S1) 1.4086; (P) 1.4138; (R1) 1.4165; More…

GBP/USD dipped to 1.4072 earlier today but quickly recovered. Intraday bias remains neutral first. On the upside, sustained break of 1.4240 will resume larger up trend from 1.1409, for 1.4376 key resistance next. On the downside, however, firm break of 1.4072 will extend the consolidation from 1.4240 with another falling leg. Intraday bias will be turned back to the downside for 1.4008 resistance turned support first.

In the bigger picture, as long as 1.3482 resistance turned support holds, up trend from 1.1409 should still continue. Decisive break of 1.4376 resistance will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. However, firm break of 1.3482 support will argue that the rise from 1.1409 has completed and bring deeper fall to 1.2675 support and below.

Daily Pivots: (S1) 1.4086; (P) 1.4138; (R1) 1.4165; More…

Range trading continues in GBP/USD and intraday bias stays neutral for the moment. Outlook stays mildly bullish for further rally with 1.4082 support intact. On the upside, sustained break of 1.4240 will resume larger up trend from 1.1409, for 1.4376 key resistance next. On the downside, however, firm break of 1.4082 will extend the consolidation from 1.4240 with another falling leg. Intraday bias will be turned back to the downside for 1.4008 resistance turned support first.

In the bigger picture, as long as 1.3482 resistance turned support holds, up trend from 1.1409 should still continue. Decisive break of 1.4376 resistance will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. However, firm break of 1.3482 support will argue that the rise from 1.1409 has completed and bring deeper fall to 1.2675 support and below.

Daily Pivots: (S1) 1.4119; (P) 1.4152; (R1) 1.4184; More…

GBP/USD is staying in sideway trading and intraday bias remains neutral. Outlook stays mildly bullish for further rally with 1.4082 support intact. On the upside, sustained break of 1.4240 will resume larger up trend from 1.1409, for 1.4376 key resistance next. On the downside, however, firm break of 1.4082 will extend the consolidation from 1.4240 with another falling leg. Intraday bias will be turned back to the downside for 1.4008 resistance turned support first.

In the bigger picture, as long as 1.3482 resistance turned support holds, up trend from 1.1409 should still continue. Decisive break of 1.4376 resistance will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. However, firm break of 1.3482 support will argue that the rise from 1.1409 has completed and bring deeper fall to 1.2675 support and below.