Daily Pivots: (S1) 1.3431; (P) 1.3487; (R1) 1.3584; More…

GBP/USD is still bounded in range of 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. For now, risk will stay on the upside as long as 1.3389 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 1.3073) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3431; (P) 1.3487; (R1) 1.3584; More…

Intraday bias in GBP/USD remains 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. For now, risk will stay on the upside as long as 1.3389 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 1.3073) holds, even in case of deep pullback.

GBP/USD gyrated lower to 1.3389 last week but rebounded strongly from there. Initial bias remains neutral this week first. 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. For now, risk will stay on the upside as long as 1.3389 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 1.3073) 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) 1.3384; (P) 1.3434; (R1) 1.3462; More…

Intraday bias in GBP/USD remains mildly on the downside for the moment. Fall from 1.3594 is in progress for 61.8% retracement of 1.3140 to 1.3594 at 1.3313. Firm break there will bring retest of 1.3140 low. On the upside, above 1.3481 minor resistance will bring retest of 1.3594 first. Overall, corrective pattern from 1.3787 is extending.

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 1.3090) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3384; (P) 1.3434; (R1) 1.3462; More…

GBP/USD’s breach of 1.3398 support suggests that rebound from 1.3140 might have completed at 1.3594 already. Intraday bias is back on the downside, for 61.8% retracement of 1.3140 to 1.3594 at 1.3313. Firm break there will bring retest of 1.3140 low. On the upside, above 1.3481 minor resistance will bring retest of 1.3594 first. Overall, corrective pattern from 1.3787 is extending.

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 1.3090) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3432; (P) 1.3471; (R1) 1.3494; More…

No change in GBP/USD’s outlook and intraday bias remains neutral. While correction from 1.3594 might extend lower, down side should be contained by 1.3399 support. On the upside, break of 1.3594 will resume the rise from 1.3140 to retest 1.3787 high. However, firm break of 1.3398 will argue that the corrective pattern from 1.3787 is extending with another falling leg. Deeper decline should the be seen back towards 1.3140.

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 1.3090) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3432; (P) 1.3471; (R1) 1.3494; More…

Intraday bias in GBP/USD stays neutral at this point. While correction from 1.3594 might extend lower, down side should be contained by 1.3399 support. On the upside, break of 1.3594 will resume the rise from 1.3140 to retest 1.3787 high. However, firm break of 1.3398 will argue that the corrective pattern from 1.3787 is extending with another falling leg. Deeper decline should the be seen back towards 1.3140.

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 1.3090) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3469; (P) 1.3500; (R1) 1.3522; More…

GBP/USD’s correction from 1.3594 is still in progress and deeper fall cannot be ruled out. But downside should be contained well above 1.3398 support. On the upside, break of 1.3594 will resume the rise from 1.3140 to retest 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 1.3090) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3469; (P) 1.3500; (R1) 1.3522; More…

No change in GBP/USD’s outlook as correction from 1.3594 is still extending. Intraday bias remains neutral. Deeper retreat might be seen but downside should be contained well above 1.3398 support. On the upside, break of 1.3594 will resume the rise from 1.3140 to retest 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 1.3090) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3478; (P) 1.3527; (R1) 1.3551; More…

Intraday bias in GBP/USD remains neutral and outlook is unchanged. Retreat from 1.3594 might extend lower but downside should be contained well above 1.3398 support. On the upside, break of 1.3594 will resume the rise from 1.3140 to retest 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 1.3090) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3478; (P) 1.3527; (R1) 1.3551; More…

GBP/USD dips lower today as correction from 1.3594 continues. Intraday bias stays neutral for the moment. Deeper pullback might be seen but downside should be contained well above 1.3398 support. On the upside, break of 1.3594 will resume the rise from 1.3140 to retest 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 1.3090) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3532; (P) 1.3553; (R1) 1.3581; More…

GBP/USD is extending consolidations below 1.3594 and intraday bias stays neutral. Deeper pullback might be seen but downside should be contained well above 1.3398 support. On the upside, break of 1.3594 will resume the rise from 1.3140 to retest 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 1.3090) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3532; (P) 1.3553; (R1) 1.3581; More…

Intraday bias in GBP/USD remains neutral and more consolidations would be seen below 1.3594. Deeper pullback might be seen but downside should be contained well above 1.3398 support. On the upside, break of 1.3594 will resume the rise from 1.3140 to retest 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 1.3090) holds, even in case of deep pullback.

GBP/USD’s rally extended to 1.3594 last week and breached 1.3587 resistance. But a temporary top was formed with subsequent retreat. Initial bias remains neutral this week for consolidations. Downside of pullback should be contained above 1.3398 support. On the upside, break of 1.3594 will resume the rise from 1.3140 to retest 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 1.3073) 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) 1.3502; (P) 1.3549; (R1) 1.3576; More…

GBP/USD is still extending consolidations below 1.3594 temporary top and intraday bias remains neutral. Further rally is expected as long as 1.3398 support holds. Above 1.3594 will extend the rise from 1.3140 to retest 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 1.3068) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3502; (P) 1.3549; (R1) 1.3576; More…

Intraday bias in GBP/USD remains neutral for consolidations below 1.3594 temporary top. Further rally is expected as long as 1.3398 support holds. Above 1.3594 will extend the rise from 1.3140 to retest 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 1.3068) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3518; (P) 1.3551; (R1) 1.3610; More…

Intraday bias in GBP/USD is turned neutral first with current retreat. Some consolidations would be seen below 1.3594 temporary top. But further rally is expected as long as 1.3398 support holds. Above 1.3594 will extend the rise from 1.3140 to retest 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 1.3068) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3518; (P) 1.3551; (R1) 1.3610; More…

Intraday bias in GBP/USD remains on the upside as rise from 1.3150 continues. Firm break of 1.3587 resistance will bring retest of 1.3787 high. On the downside, below 1.3491 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

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 1.3068) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3438; (P) 1.3481; (R1) 1.3543; More…

GBP/USD’s rally from 1.3140 re-accelerates higher today and intraday bias stays on the upside. Correction from 1.3787 should have completed with three waves down to 1.3140. Firm break of 1.3587 will bring retest of 1.3787 high. On the downside, below 1.3476 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

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 1.3068) holds, even in case of deep pullback.

Daily Pivots: (S1) 1.3438; (P) 1.3481; (R1) 1.3543; More…

Intraday bias in GBP/USD remains on the upside as rise from 1.3140 is in progress for 1.3587 resistance. Correction from 1.3787 should have completed with three waves down to 1.3140. Firm break of 1.3587 will bring retest of 1.3787 high. On the downside, below 1.3398 minor support will turn intraday bias neutral and dampen the bullish case.

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 1.3068) holds, even in case of deep pullback.