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GBP/USD Mid-Day Outlook


Day by day Pivots: (S1) 1.0881; (P) 1.1000; (R1) 1.1238; Extra…

GBP/USD’s rebound from 1.0351 remains to be in progress and intraday bias stays mildly on the upside. Additional rise may very well be seen to 61.8% retracement of 1.2292 to 1.0351 at 1.1551. On the draw back, break of 1.0760 minor help will point out that the rebound is over, and convey retest of 1.0351 low.

Within the greater image, fall from 1.4248 (2018 excessive) is resuming long run down development from 2.1161 (2007 excessive). Subsequent goal is 100% projection of two.1161 to 1.3503 from 1.7190 at 0.9532. There isn’t any scope of a medium time period rebound so long as 1.1759 help turned resistance holds.

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