Daily Pivots: (S1) 1.3710; (P) 1.3746; (R1) 1.3773; More…

Intraday bias in GBP/USD remains mildly on the downside at this point. Firm break of 1.3669 will resume whole corrective fall from 1.4240. Deeper decline would be seen to 1.3482 resistance turned support next. On the upside, above 1.3781 minor resistance will turn bias neutral first. But risk will stay on the downside as long as 1.3917 resistance holds.

In the bigger picture, rise from 1.1409 medium term bottom is in progress. Further rally would be seen to 1.4376 resistance and above. Decisive break there will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. On the downside, break of 1.3482 resistance turned support is needed to be first indication of completion of the rise. Otherwise, outlook will stay cautiously bullish even in case of deep pullback.

Daily Pivots: (S1) 1.3695; (P) 1.3768; (R1) 1.3810; More…

Outlook in GBP/USD is unchanged. Intraday bias stays mildly on the downside for 1.3669 support. Break there will resume whole corrective fall from 1.4240, for 1.3482 resistance turned support next. For now, risk will remain on the downside as long as 1.3917 resistance holds, in case of recovery.

In the bigger picture, rise from 1.1409 medium term bottom is in progress. Further rally would be seen to 1.4376 resistance and above. Decisive break there will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. On the downside, break of 1.3482 resistance turned support is needed to be first indication of completion of the rise. Otherwise, outlook will stay cautiously bullish even in case of deep pullback.

Daily Pivots: (S1) 1.3695; (P) 1.3768; (R1) 1.3810; More…

Intraday bias in GBP/USD stays mildly on the downside for 1.3669 support. Break there will resume whole corrective fall from 1.4240, for 1.3482 resistance turned support next. For now, risk will remain on the downside as long as 1.3917 resistance holds, in case of recovery.

In the bigger picture, rise from 1.1409 medium term bottom is in progress. Further rally would be seen to 1.4376 resistance and above. Decisive break there will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. On the downside, break of 1.3482 resistance turned support is needed to be first indication of completion of the rise. Otherwise, outlook will stay cautiously bullish even in case of deep pullback.

Daily Pivots: (S1) 1.3781; (P) 1.3850; (R1) 1.3898; More…

GBP/USD’s sharp decline now suggests that recovery from 1.3669 has completed at 1.3917. More importantly, whole correction from 1.4240 is still in progress. Intraday bias is back on the downside for 1.3669. Firm break there will target 1.3482 resistance turned support next. For now, risk will remain on the downside as long as 1.3917 resistance holds, in case of recovery.

In the bigger picture, rise from 1.1409 medium term bottom is in progress. Further rally would be seen to 1.4376 resistance and above. Decisive break there will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. On the downside, break of 1.3482 resistance turned support is needed to be first indication of completion of the rise. Otherwise, outlook will stay cautiously bullish even in case of deep pullback.

Daily Pivots: (S1) 1.3781; (P) 1.3850; (R1) 1.3898; More…

Focus is back on 1.3808 minor support in GBP/USD. Break there will dampen our bullish view, and suggests that correction from 1.4240 is still underway. Intraday bias will be turned back to the downside for 38.2% retracement of 1.2675 to 1.4240 at 1.3642. On the upside, above 1.3917 will extend the rebound from 1.3669 to 1.4000 resistance. Decisive break there will confirm completion of the correction from 1.4240, and bring retest of this high.

In the bigger picture, rise from 1.1409 medium term bottom is in progress. Further rally would be seen to 1.4376 resistance and above. Decisive break there will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. On the downside, break of 1.3482 resistance turned support is needed to be first indication of completion of the rise. Otherwise, outlook will stay cautiously bullish even in case of deep pullback.

Daily Pivots: (S1) 1.3841; (P) 1.3877; (R1) 1.3942; More…

Intraday bias in GBP/USD is turned neutral a it retreats notably after hitting 1.3917. At this point, we’re still favoring the case the corrective fall from 1.4240 has completed at 1.3669. Break of 1.3917 will target 1.4000 resistance first. Decisive break there should confirm this bullish case and bring retest of 1.4240 high. However, break of 1.3808 will dampen this view, and turn bias back to the downside for 38.2% retracement of 1.2675 to 1.4240 at 1.3642.

In the bigger picture, rise from 1.1409 medium term bottom is in progress. Further rally would be seen to 1.4376 resistance and above. Decisive break there will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. On the downside, break of 1.3482 resistance turned support is needed to be first indication of completion of the rise. Otherwise, outlook will stay cautiously bullish even in case of deep pullback.

Daily Pivots: (S1) 1.3841; (P) 1.3877; (R1) 1.3942; More….

Intraday bias in GBP/USD remains on the upside for 1.4000 resistance. Decisive break there should confirm that corrective pull back from 1.4240 has completed with three waves down to 1.3669, ahead of 38.2% retracement of 1.2675 to 1.4240 at 1.3642. Retest of 1.4240 high should be seen next. On the downside, below 1.3808 minor support will dampen this view and turn bias neutral first.

In the bigger picture, rise from 1.1409 medium term bottom is in progress. Further rally would be seen to 1.4376 resistance and above. Decisive break there will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. On the downside, break of 1.3482 resistance turned support is needed to be first indication of completion of the rise. Otherwise, outlook will stay cautiously bullish even in case of deep pullback.

Daily Pivots: (S1) 1.3813; (P) 1.3833; (R1) 1.3853; More….

GBP/USD’s rebound resumed by breaking 1.3846 minor resistance intraday bias is back on the upside for 1.4000 resistance. Decisive break there should confirm that corrective pull back from 1.4240 has completed with three waves down to 1.3669, ahead of 38.2% retracement of 1.2675 to 1.4240 at 1.3642. Retest of 1.4240 high should be seen next. On the downside, below 1.3808 minor support will dampen this view and turn bias neutral first.

In the bigger picture, rise from 1.1409 medium term bottom is in progress. Further rally would be seen to 1.4376 resistance and above. Decisive break there will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. On the downside, break of 1.3482 resistance turned support is needed to be first indication of completion of the rise. Otherwise, outlook will stay cautiously bullish even in case of deep pullback.

Daily Pivots: (S1) 1.3731; (P) 1.3771; (R1) 1.3826; More….

Range trading continues in GBP/USD and intraday bias stays neutral at this point. We’re still slightly favoring the case that corrective pull back from 1.4240 has completed with three waves down to 1.3669, ahead of 38.2% retracement of 1.2675 to 1.4240 at 1.3642. On the upside, break of 1.3846 will extend the rebound to 1.4000 resistance and then 1.4240 high. However, sustained break of 1.3642 will turn bring deeper fall to 1.3482 resistance turned support.

In the bigger picture, rise from 1.1409 medium term bottom is in progress. Further rally would be seen to 1.4376 resistance and above. Decisive break there will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. On the downside, break of 1.3482 resistance turned support is needed to be first indication of completion of the rise. Otherwise, outlook will stay cautiously bullish even in case of deep pullback.

Daily Pivots: (S1) 1.3731; (P) 1.3771; (R1) 1.3826; More….

Intraday bias in GBP/USD remains neutral as range trading continues. We’re still slightly favoring the case that corrective pull back from 1.4240 has completed with three waves down to 1.3669, ahead of 38.2% retracement of 1.2675 to 1.4240 at 1.3642. On the upside, break of 1.3846 will extend the rebound to 1.4000 resistance and then 1.4240 high. However, sustained break of 1.3642 will turn bring deeper fall to 1.3482 resistance turned support.

In the bigger picture, rise from 1.1409 medium term bottom is in progress. Further rally would be seen to 1.4376 resistance and above. Decisive break there will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. On the downside, break of 1.3482 resistance turned support is needed to be first indication of completion of the rise. Otherwise, outlook will stay cautiously bullish even in case of deep pullback.

Daily Pivots: (S1) 1.3703; (P) 1.3743; (R1) 1.3780; More….

GBP/USD recovers mildly today but stays inside range of 1.3669/3846. Intraday bias remains neutral first. We’re still slightly favoring the case that corrective pull back from 1.4240 has completed with three waves down to 1.3669, ahead of 38.2% retracement of 1.2675 to 1.4240 at 1.3642. On the upside, break of 1.3846 will extend the rebound to 1.4000 resistance and then 1.4240 high. However, sustained break of 1.3642 will turn bring deeper fall to 1.3482 resistance turned support.

In the bigger picture, rise from 1.1409 medium term bottom is in progress. Further rally would be seen to 1.4376 resistance and above. Decisive break there will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. On the downside, break of 1.3482 resistance turned support is needed to be first indication of completion of the rise. Otherwise, outlook will stay cautiously bullish even in case of deep pullback.

Daily Pivots: (S1) 1.3703; (P) 1.3743; (R1) 1.3780; More….

Intraday bias in GBP/USD remains neutral first. We’re still slightly favoring the case that corrective pull back from 1.4240 has completed with three waves down to 1.3669, ahead of 38.2% retracement of 1.2675 to 1.4240 at 1.3642. On the upside, break of 1.3846 will extend the rebound to 1.4000 resistance and then 1.4240 high. However, sustained break of 1.3642 will turn bring deeper fall to 1.3482 resistance turned support.

In the bigger picture, rise from 1.1409 medium term bottom is in progress. Further rally would be seen to 1.4376 resistance and above. Decisive break there will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. On the downside, break of 1.3482 resistance turned support is needed to be first indication of completion of the rise. Otherwise, outlook will stay cautiously bullish even in case of deep pullback.

Daily Pivots: (S1) 1.3729; (P) 1.3788; (R1) 1.3821; More….

Intraday bias in GBP/USD remains neutral at this point. We’re still slightly favoring the case that corrective pull back from 1.4240 has completed with three waves down to 1.3669, ahead of 38.2% retracement of 1.2675 to 1.4240 at 1.3642. On the upside, break of 1.3846 will extend the rebound to 1.4000 resistance and then 1.4240 high.

In the bigger picture, rise from 1.1409 medium term bottom is in progress. Further rally would be seen to 1.4376 resistance and above. Decisive break there will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. On the downside, break of 1.3482 resistance turned support is needed to be first indication of completion of the rise. Otherwise, outlook will stay cautiously bullish even in case of deep pullback.

Daily Pivots: (S1) 1.3729; (P) 1.3788; (R1) 1.3821; More….

GBP/USD’s recovery lost momentum after hitting 1.3846 and intraday bias is turned neutral first. We’d still slightly favoring the case that corrective pull back from 1.4240 has completed with three waves down to 1.3669, ahead of 38.2% retracement of 1.2675 to 1.4240 at 1.3642. On the upside, break of 1.3846 will extend the rebound to 1.4000 resistance and then 1.4240 high.

In the bigger picture, rise from 1.1409 medium term bottom is in progress. Further rally would be seen to 1.4376 resistance and above. Decisive break there will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. On the downside, break of 1.3482 resistance turned support is needed to be first indication of completion of the rise. Otherwise, outlook will stay cautiously bullish even in case of deep pullback.

Daily Pivots: (S1) 1.3743; (P) 1.3778; (R1) 1.3826; More….

GBP/USD’s break of 1.3816 minor resistance suggests that corrective pull back from 1.4240 has completed with three waves down to 1.3669, ahead of 38.2% retracement of 1.2675 to 1.4240 at 1.3642. Intraday bias is back on the upside for 1.4000 resistance and then 1.4240 high. On the downside, break of 1.3755 minor support will turn intraday bias back to the downside for 1.3669 again.

In the bigger picture, rise from 1.1409 medium term bottom is in progress. Further rally would be seen to 1.4376 resistance and above. Decisive break there will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. On the downside, break of 1.3482 resistance turned support is needed to be first indication of completion of the rise. Otherwise, outlook will stay cautiously bullish even in case of deep pullback.

Daily Pivots: (S1) 1.3743; (P) 1.3778; (R1) 1.3826; More….

Intraday bias in GBP/USD remains neutral for the moment. On the upside, firm break of 1.3816 minor resistance should indicate short term bottoming. Intraday bias will be turned back to the upside for 1.4000 resistance and then 1.4240 high. However, sustained break of 38.2% retracement of 1.2675 to 1.4240 at 1.3642 will bring deeper fall to 1.3482 key resistance turned support.

In the bigger picture, rise from 1.1409 medium term bottom is in progress. Further rally would be seen to 1.4376 resistance and above. Decisive break there will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. On the downside, break of 1.3482 resistance turned support is needed to be first indication of completion of the rise. Otherwise, outlook will stay cautiously bullish even in case of deep pullback.

GBP/USD’s correction from 1.4240 extended to 1.3669 last week, but recovered just ahead of 38.2% retracement of 1.2675 to 1.4240 at 1.3642. Initial bias remains neutral this week first. On the upside, firm break of 1.3816 minor resistance should indicate short term bottoming. Intraday bias will be turned back to the upside for 1.4000 resistance and then 1.4240 high. However, sustained break of 1.3564 will bring deeper fall to 1.3482 key resistance turned support.

In the bigger picture, rise from 1.1409 medium term bottom is in progress. Further rally would be seen to 1.4376 resistance and above. Decisive break there will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. On the downside, break of 1.3482 resistance turned support is needed to be first indication of completion of the rise. Otherwise, outlook will stay cautiously bullish even in case of deep pullback.

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) 1.3687; (P) 1.3716; (R1) 1.3763; More….

Intraday bias in GBP/USD remains neutral for the moment, and outlook is unchanged. We’d continue to expect strong support from 38.2% retracement of 1.2675 to 1.4240 at 1.3642 to complete the correction from 1.4240. On the upside, above 1.3816 minor resistance will turn bias to the upside for 1.4000 resistance first. break will bring retest of 1.4240 high. However, sustained break of 1.3564 will bring deeper fall to 1.3482 key resistance turned support.

In the bigger picture, rise from 1.1409 medium term bottom is in progress. Further rally would be seen to 1.4376 resistance and above. Decisive break there will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. On the downside, break of 1.3482 resistance turned support is needed to be first indication of completion of the rise. Otherwise, outlook will stay cautiously bullish even in case of deep pullback.

Daily Pivots: (S1) 1.3687; (P) 1.3716; (R1) 1.3763; More….

Intraday bias in GBP/USD is turned neutral with current recovery. We’d continue to expect strong support from 38.2% retracement of 1.2675 to 1.4240 at 1.3642 to complete the correction from 1.4240. On the upside, above 1.3816 minor resistance will turn bias to the upside for 1.4000 resistance first. break will bring retest of 1.4240 high. However, sustained break of 1.3564 will bring deeper fall to 1.3482 key resistance turned support.

In the bigger picture, rise from 1.1409 medium term bottom is in progress. Further rally would be seen to 1.4376 resistance and above. Decisive break there will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. On the downside, break of 1.3482 resistance turned support is needed to be first indication of completion of the rise. Otherwise, outlook will stay cautiously bullish even in case of deep pullback.

Daily Pivots: (S1) 1.3650; (P) 1.3705; (R1) 1.3735; More….

No change in GBP/USD’s outlook as correction from 1.4240 might extend lower. We’d expect strong support from 38.2% retracement of 1.2675 to 1.4240 at 1.3642 to bring rebound. On the upside, above 1.3800 minor resistance will turn intraday bias neutral first. Further break of 1.4000 resistance will bring retest of 1.4240 high. However, sustained break of 1.3564 will bring deeper fall to 1.3482 key resistance turned support.

In the bigger picture, rise from 1.1409 medium term bottom is in progress. Further rally would be seen to 1.4376 resistance and above. Decisive break there will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. On the downside, break of 1.3482 resistance turned support is needed to be first indication of completion of the rise. Otherwise, outlook will stay cautiously bullish even in case of deep pullback.