The GBPUSD was indecisive yesterday but overall still able to maintain its bullish intraday bias. The violation of the bearish channel as you can see on my daily chart below, support this bullish bias. The bias remains bullish in nearest term especially if price able to make a clear break above 1.4000 testing 1.4070 – 1.4100 region.
Immediate support is seen around 1.3924 (yesterday’s low). A clear break below that area could lead price to neutral zone in nearest term as direction would become unclear testing 1.3875 area or lower. On the upside, a clear break and daily close above 1.4070 – 1.4100 would retest 1.4275 key resistance. Overall I remain bullish.
The GBPUSD didn’t make significant movement yesterday. The bias is neutral in nearest term. The bullish scenario following the break above the bearish channel remains intact but the lack of bullish momentum after formed a triple top at 1.3995 region is not a good news for the buyers.
Immediate support is seen around 1.3875. A clear break and daily/weekly close back below that area would create a false breakout bearish scenario next week. On the upside, we need a clear break above 1.4000 to invalidate the triple top bearish scenario retesting 1.4275 key resistance. As long as stay above the trend line support my major bullish trend remains valid.
The GBPUSD had a bullish momentum last week topped at 1.3995. The break above the bearish channel suggests a bullish outlook but the appearance of the triple top formation at 1.3995 following the lack of bullish momentum is a serious threat to the bullish scenario. The bias is neutral in nearest term.
Immediate support is seen around 1.3875. A clear break below that area could trigger further bearish pressure testing 1.3750 or lower as we may have a false breakout bearish scenario but as long as stay above the major trend line support my major bullish outlook remains valid. On the upside, we need a clear break above 1.3995 to invalidate the triple top scenario testing 1.4070 – 1.4100 region or higher.
The GBPUSD had a significant bullish momentum yesterday topped at 1.4087. Price broke above the triple top formation which gives further confirmation to the bullish scenario after broke above the bearish channel as you can see on my daily chart below. The bias is bullish in nearest term testing 1.4100 – 1.4150 region.
Immediate support is seen around 1.3995 region. A clear break below that area could lead price to neutral zone in nearest term testing 1.3920 area but overall I remain bullish and any downside pullback should be seen as a good opportunity to buy.
The GBPUSD was indecisive yesterday, printed an inside bar formation as you can see on my daily chart below. The bias is neutral in nearest term but overall I remain bullish. Immediate support is seen around 1.3982 (yesterday’s low). A clear break below that area could trigger further bearish pressure testing 1.3950/20 region but any downside pullback should be seen as a good opportunity to buy.
Immediate resistance is seen around 1.4065 – 1.4087 region. A clear break above that area would retest 1.4275 key resistance.
As expected, the GBPUSD had a bullish momentum yesterday topped at 1.4150 and hit 1.4169 earlier today in Asian session. First, the bearish channel was violated. Secondly, the triple top formation was broken. And now price broke above the high of inside bar and the mother bar as you can see on my daily chart below, giving us a convincing bullish structure. The bias is bullish in nearest term testing 1.4230 – 1.4275 area.
Immediate support is seen around 1.4100 – 1.4075 area. A clear break below that area could lead price to neutral zone in nearest term but overall I remain bullish and any downside pullback should be seen as a good opportunity to buy.
The GBPUSD attempted to push higher yesterday topped at 1.4218 but whipsawed to the downside and closed lower at 1.4099, printed a bearish pin bar as you can see on my daily chart below. Overall I remain bullish but the appearance of the bearish pin bar just above 1.4275 key resistance is not a good news for the bullish scenario. The bias is neutral in nearest term.
Immediate support is seen around 1.4075. A clear break below that area would support the bearish pin bar scenario testing 1.4000 region. On the upside, we need a clear break above 1.4218 to invalidate the bearish pin bar scenario testing 1.4275 or higher.
The GBPUSD had a bullish momentum last week topped at 1.4218 but closed a little bit lower at 1.4099. Price printed a bearish pin bar as you can see on my daily chart below but still unable to break below 1.4075 support area so far, which need to be broken to give further confirmation to the bearish pin bar scenario testing 1.4000 area. The bias is neutral in nearest term.
Immediate resistance is seen around 1.4218. A clear break and daily close above that area would invalidate the bearish pin bar scenario testing 1.4275 key resistance area. Overall I remain bullish.
The GBPUSD had a significant bullish momentum yesterday, slipped above the “tail” of the bearish pin bar as you can see on my daily chart below. This fact invalidates the bearish pin bar scenario. The bias is bullish in nearest term testing 1.4275 – 1.4344 key resistance area as a part of the bullish phase after broke above the bearish channel.
Immediate support is seen around 1.4190. A clear break below that area could lead price to neutral zone in nearest term testing 1.4125 region but overall I remain bullish and any downside pullback should be seen as a good opportunity to buy.
The GBPUSD attempted to push lower yesterday slipped below 1.4075 support area but whipsawed to the upside and closed higher at 1.4155 and hit 1.4185 earlier today in Asian session. The bias is neutral in nearest term probably with a little bullish bias retesting 1.4243 resistance area.
Immediate support is seen around 1.4150. A clear break below that area could trigger further bearish pressure retesting 1.4075 support area. On the upside, a clear break above 1.4243 would expose 1.4275 – 1.4344 key resistance area. Overall I remain bullish and any downside pullback should be seen as a good opportunity to buy.
