GBP/USD’s decline from 1.3141 continued last week despite interim recovery. Further decline is in favor this week. Break of 1.2761 will target 55 D EMA (now at 1.2720) and below. Nevertheless, on the upside, break of 1.2994 resistance will argue that the pull back has completed, and bring retest of 1.3141 high. In the bigger
GBPUSD Outlook
Daily Pivots: (S1) 1.2720; (P) 1.2858; (R1) 1.2934; More… GBP/USD recovers notably after dipping to 1.2761 earlier today. But for now, further decline is in favor as long as 1.2994 resistance holds. Fall from 1.3141 would target 55 D EMA (now at 1.2718) and possibly below. On the upside, break of 1.2994 resistance will argue
Daily Pivots: (S1) 1.2720; (P) 1.2858; (R1) 1.2934; More… GBP/USD’s fall from 1.3141 resumed by breaking 1.2796 support. Intraday bias is back on the downside for 55 D EMA (now at 1.2718) and possibly below. On the upside, break of 1.2994 resistance will argue that the pull back has completed, and bring retest of 1.3141
Daily Pivots: (S1) 1.2816; (P) 1.2891; (R1) 1.2941; More… Intraday bias in GBP/USD stays neutral and outlook is unchanged. With 1.2847 resistance turned support intact, outlook stays bullish. On the upside, above 1.2963 minor resistance will turn bias back to the upside for retesting 1.3141 high. Nevertheless, decisive break of 1.2847 will argue that larger
Daily Pivots: (S1) 1.2857; (P) 1.2951; (R1) 1.3034; More… Intraday bias bias in GBP/USD remains neutral at this point. With 1.2847 resistance turned support intact, outlook stays bullish. On the upside, above 1.2963 minor resistance will turn bias back to the upside for retesting 1.3141 high. Nevertheless, decisive break of 1.2847 will argue that larger
Daily Pivots: (S1) 1.2857; (P) 1.2951; (R1) 1.3034; More… Intraday bias in GBP/USD stays neutral for the moment. Near term outlook will stay bullish as long as 1.2847 resistance turned support holds. On the upside, above 1.3011 minor resistance will turn bias back to the upside for retesting 1.3141 high. Nevertheless, decisive break of 1.2847
Daily Pivots: (S1) 1.3000; (P) 1.3063; (R1) 1.3098; More… GBP/USD’s correction from 1.3141 is still in progress and deeper decline could be seen. But near term outlook will stay bullish as long as 1.2847 resistance turned support holds. On the upside, above 1.3011 minor resistance will turn bias back to the upside for retesting 1.3141