GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.3615; (P) 1.3667; (R1) 1.3709; More

GBP/USD should finally be resuming recent rally from 1.1409, with a committed break of 1.3702 resistance. Intraday bias stays on the upside for 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956. In any case, break of 1.3518 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

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. On the downside, break of 1.2675 support is needed to indicate completion of the rise. Otherwise, outlook will stays cautiously bullish in case of pullback.

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.3615; (P) 1.3667; (R1) 1.3709; More

Firstly, further rise is expected in GBP/USD as long as 1.3518 support holds. Secondly, focus stays on 1.3702 resistance. Decisive break there will confirm rally resumption for 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956. However, break of 1.3518 support will turn bias to the downside, for deeper correction to 1.3134 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. On the downside, break of 1.2675 support is needed to indicate completion of the rise. Otherwise, outlook will stays cautiously bullish in case of pullback.

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.3596; (P) 1.3616; (R1) 1.3657; More

GBP/USD breaches 1.3702 resistance again today but couldn’t stay above there yet. Intraday bias remains neutral first. Still as long as 1.3518 support holds, further rise is expected. On the upside, firm break of 1.3702 will resume larger up rise from 1.1409 to 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956. However, break of 1.3518 support will turn bias to the downside, for deeper correction to 1.3134 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. On the downside, break of 1.2675 support is needed to indicate completion of the rise. Otherwise, outlook will stays cautiously bullish in case of pullback.

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.3596; (P) 1.3616; (R1) 1.3657; More

GBP/USD’s consolidation from 1.3702 is still extending and intraday bias remains neutral at this point. As long as 1.3428 support holds, further rally is expected. On the upside, firm break of 1.3702 will resume larger up rise form 1.1409 to 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956. However, break of 1.3428 support will turn bias to the downside, for deeper correction to 1.3134 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. On the downside, break of 1.2675 support is needed to indicate completion of the rise. Otherwise, outlook will stays cautiously bullish in case of pullback.

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.3536; (P) 1.3570; (R1) 1.3621; More

GBP/USD is still bounded in consolidation from 1.3702 and intraday bias remains neutral first. Also, with 1.3428 support intact, further rise is still in favor. On the upside, firm break of 1.3702 will resume larger up rise form 1.1409 to 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956. However, break of 1.3428 support will turn bias to the downside, for deeper correction to 1.3134 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. On the downside, break of 1.2675 support is needed to indicate completion of the rise. Otherwise, outlook will stays cautiously bullish in case of pullback.

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.3536; (P) 1.3570; (R1) 1.3621; More

Intraday bias in GBP/USD remains neutral as consolidation from 1.3702 is extending. With 1.3428 support intact, further rise is still in favor. On the upside, firm break of 1.3702 will resume larger up rise form 1.1409 to 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956. However, break of 1.3428 support will turn bias to the downside, for deeper correction to 1.3134 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. On the downside, break of 1.2675 support is needed to indicate completion of the rise. Otherwise, outlook will stays cautiously bullish in case of pullback.

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.3539; (P) 1.3618; (R1) 1.3665; More

Sideway consolidation continues in GBP/USD and intraday bias stays neutral for the moment. With 1.3428 support intact, further rise is still in favor. On the upside, firm break of 1.3702 will resume larger up rise form 1.1409 to 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956. However, break of 1.3428 support will turn bias to the downside, for deeper correction to 1.3134 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. On the downside, break of 1.2675 support is needed to indicate completion of the rise. Otherwise, outlook will stays cautiously bullish in case of pullback.

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.3539; (P) 1.3618; (R1) 1.3665; More

GBP/USD is staying in consolidation from 1.3702 and intraday bias remains neutral at this point. Further rise is in favor with 1.3428 support intact. On the upside, firm break of 1.3702 will resume larger up rise form 1.1409 to 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956. However, break of 1.3428 support will turn bias to the downside, for deeper correction to 1.3134 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. On the downside, break of 1.2675 support is needed to indicate completion of the rise. Otherwise, outlook will stays cautiously bullish in case of pullback.

GBP/USD Weekly Outlook

GBP/USD failed to break through 1.3702 resistance decisively last week and retreated. Initial bias remains neutral this week first. Further rise is in favor with 1.3428 support intact. On the upside, firm break of 1.3702 will resume larger up rise form 1.1409 to 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956. However, break of 1.3428 support will turn bias to the downside, for deeper correction to 1.3134 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. On the downside, break of 1.2675 support is needed to indicate completion of the rise. Otherwise, outlook will stays cautiously bullish in case of 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.

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.3631; (P) 1.3671; (R1) 1.3724; More

GBP/USD failed to break through 1.3702 resistance decisively and retreated. Intraday bias remains neutral as more consolidation could be seen. Still outlook will stay bullish as long as 1.3428 support holds, even in case of deeper retreat. On the upside, decisive break of 1.3702 will resume whole rise from 1.1409. Intraday bias will be turned back to the upside for 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956.

In the bigger picture, the break of 1.3514 structural resistance and sustained trading above 55 month EMA (now at 1.3328) should confirm medium term bottoming at 1.1409. Rise from there should now extend to 1.4376 resistance and above. This will remain the favored case as long as 1.2675 support holds.

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.3631; (P) 1.3671; (R1) 1.3724; More

Intraday bias in GBP/USD remains neutral at this point. On the upside, decisive break of 1.3702 will resume whole rise from 1.1409. Intraday bias will be turned back to the upside for 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956. For now, outlook will stay bullish as long as 1.3428 support holds, even in case of another retreat.

In the bigger picture, the break of 1.3514 structural resistance and sustained trading above 55 month EMA (now at 1.3328) should confirm medium term bottoming at 1.1409. Rise from there should now extend to 1.4376 resistance and above. This will remain the favored case as long as 1.2675 support holds.

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.3599; (P) 1.3649; (R1) 1.3687; More

Range trading continues in GBP/USD and intraday bias stays neutral for the moment. On the upside, decisive break of 1.3702 will resume whole rise from 1.1409. Intraday bias will be turned back to the upside for 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956. For now, outlook will stay bullish as long as 1.3428 support holds, even in case of another retreat.

In the bigger picture, the break of 1.3514 structural resistance and sustained trading above 55 month EMA (now at 1.3328) should confirm medium term bottoming at 1.1409. Rise from there should now extend to 1.4376 resistance and above. This will remain the favored case as long as 1.2675 support holds.

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.3599; (P) 1.3649; (R1) 1.3687; More

GBP/USD is staying in consolidation from 1.3702 and intraday bias remains neutral first. On the upside, decisive break of 1.3702 will resume whole rise from 1.1409. Intraday bias will be turned back to the upside for 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956. For now, outlook will stay bullish as long as 1.3428 support holds, even in case of another retreat.

In the bigger picture, the break of 1.3514 structural resistance and sustained trading above 55 month EMA (now at 1.3328) should confirm medium term bottoming at 1.1409. Rise from there should now extend to 1.4376 resistance and above. This will remain the favored case as long as 1.2675 support holds.

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.3557; (P) 1.3614; (R1) 1.3722; More

Intraday bias in GBP/USD remains neutral with focus on 1.3702 resistance. Decisive break there will resume whole rise from 1.1409. Intraday bias will be turned back to the upside for 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956. For now, outlook will stay bullish as long as 1.3428 support holds, even in case of another retreat.

In the bigger picture, the break of 1.3514 structural resistance and sustained trading above 55 month EMA (now at 1.3328) should confirm medium term bottoming at 1.1409. Rise from there should now extend to 1.4376 resistance and above. This will remain the favored case as long as 1.2675 support holds.

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.3557; (P) 1.3614; (R1) 1.3722; More

Focus is now on 1.3702 resistance in GBP/USD against with current rebound. Decisive break there will resume whole rise from 1.1409. Intraday bias will be turned back to the upside for 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956. For now, outlook will stay bullish as long as 1.3428 support holds, even in case of another retreat.

In the bigger picture, the break of 1.3514 structural resistance and sustained trading above 55 month EMA (now at 1.3328) should confirm medium term bottoming at 1.1409. Rise from there should now extend to 1.4376 resistance and above. This will remain the favored case as long as 1.2675 support holds.

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.3452; (P) 1.3513; (R1) 1.3574; More

GBP/USD rebounds notably today but stays below 1.3702 resistance. Intraday bias remains neutral first and another rise is in favor. On the upside, break of 1.3702 will resume whole rise from 1.1409 to 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956. On the downside, break of 1.3428 will indicate short term topping, and turn bias to the downside for deeper pull back, to 1.3134 support next.

In the bigger picture, the break of 1.3514 structural resistance and sustained trading above 55 month EMA (now at 1.3328) should confirm medium term bottoming at 1.1409. Rise from there should now extend to 1.4376 resistance and above. This will remain the favored case as long as 1.2675 support holds.

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.3452; (P) 1.3513; (R1) 1.3574; More

Intraday bias in GBP/USD remains neutral at this point. On the downside, break of 1.3428 will indicate short term topping, and turn bias to the downside for deeper pull back, to 1.3134 support next. On the upside, break of 1.3702 will resume whole rise from 1.1409 to 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956.

In the bigger picture, the break of 1.3514 structural resistance and sustained trading above 55 month EMA (now at 1.3328) should confirm medium term bottoming at 1.1409. Rise from there should now extend to 1.4376 resistance and above. This will remain the favored case as long as 1.2675 support holds.

GBP/USD Mid-Day Outlook

Daily Pivots: (S1) 1.3521; (P) 1.3579; (R1) 1.3618; More

GBP/USD is still staying above 1.3428 support and intraday bias remains neutral first. On the downside, break of 1.3428 will indicate short term topping, and turn bias to the downside for deeper pull back, to 1.3134 support next. On the upside, break of 1.3702 will resume whole rise from 1.1409 to 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956.

In the bigger picture, the break of 1.3514 structural resistance and sustained trading above 55 month EMA (now at 1.3328) should confirm medium term bottoming at 1.1409. Rise from there should now extend to 1.4376 resistance and above. This will remain the favored case as long as 1.2675 support holds.

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.3521; (P) 1.3579; (R1) 1.3618; More

GBP/USD’s pull back from 1.3702 extends today but stays above 1.3428 support. Intraday bias remains neutral first. Further rise is expected as long as 1.3428 support holds. Break of 1.3702 will resume whole rise from 1.1409 to 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956. On the downside, break of 1.3428 support will indicate short term top, and turn bias to the downside for deeper pull back, to 1.3134 support next.

In the bigger picture, the break of 1.3514 structural resistance and sustained trading above 55 month EMA (now at 1.3328) should confirm medium term bottoming at 1.1409. Rise from there should now extend to 1.4376 resistance and above. This will remain the favored case as long as 1.2675 support holds.

GBP/USD Weekly Outlook

GBP/USD edged higher to 1.3702 last week but retreated against quickly. Initial bias stays neutral this week for consolidations first. Further rise is expected as long as 1.3428 support holds. Break of 1.3702 will resume whole rise from 1.1409 to 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956. On the downside, break of 1.3428 support will indicate short term top, and turn bias to the downside for deeper pull back.

In the bigger picture, the break of 1.3514 structural resistance and sustained trading above 55 month EMA (now at 1.3328) should confirm medium term bottoming at 1.1409. Rise from there should now extend to 1.4376 resistance and above. This will remain the favored case as long as 1.2675 support holds.

In the longer term picture, a short 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.