The GBPUSD had a significant bearish momentum yesterday slipped below the trend line support as you can see on my daily chart below, but the EMA 200 support (around 1.3600) still holds so far. A clear break below 1.3600 would confirm the invalidation of the major bullish trend with nearest bearish target seen at 1.3460. From another technical perspective, there is also a confirmed double top formation, which amplify the bearish scenario. The bias is bearish in nearest term.
Immediate resistance is seen around 1.3660. A clear break above that area could lead price to neutral zone in nearest term but only a clear break back above 1.3710 would interrupt the bearish outlook and give the bullish scenario another chance.
The GBPUSD resumed its bearish momentum yesterday bottomed at 1.3552. I think price has convincingly broke below the trend line support, which not only invalidate the major bullish trend but also could signal a bearish reversal. The bias remains bearish in nearest term testing 1.3500 – 1.3460 region.
Immediate resistance is seen around 1.3625. A clear break above that area could lead price to neutral zone in nearest term testing 1.3660 area but as long as stay below 1.3710 I still prefer a bearish scenario at this phase and any upside pullback should be seen as a good opportunity to sell.
The GBPUSD was indecisive yesterday. The bias is neutral in nearest term but overall I still prefer a bearish scenario at this phase with nearest target seen around 1.3460.
Immediate resistance is seen around 1.3600. A clear break above that area could trigger further bullish pressure testing 1.3665 area but as long as stay below 1.3710 I still prefer a bearish scenario at this phase and any upside pullback should be seen as a good opportunity to sell. On the downside, a clear break and daily close below 1.3460 would expose 1.3300 area.
The GBPUSD had another indecisive movement yesterday, printed another Doji on daily chart. The bias remains neutral in nearest term. Overall I still prefer a bearish scenario at this phase but need a clear break below 1.3480 to resume the bearish run testing 1.3300 region.
Immediate resistance is seen around 1.3605 area. A clear break above that area could trigger further bullish pullback but as long as stay below 1.3710 I still prefer a bearish scenario at this phase and any upside pullback should be seen as a good opportunity to sell.
The GBPUSD was indecisive last week. The bias is neutral in nearest term. Overall I still prefer a bearish scenario at this phase but need a clear break below 1.3480 to resume the bearish phase targeting 1.3300 region.
Immediate resistance is seen around 1.3620. A clear break above that area could trigger further bullish pressure but as long as stay below 1.3710 any upside pullback should be seen as a good opportunity to sell. Immediate support is seen around 1.3530. A clear break below that area could trigger further bearish pressure testing 1.3480 region.
The GBPUSD had another indecisive movement yesterday. There are no changes in my technical outlook. The bias remains neutral in nearest term. Immediate resistance is seen around 1.3620. A clear break above that area could trigger further bullish pressure but as long as stay below 1.3710 I still prefer a bearish scenario at this phase and any upside pullback should be seen as a good opportunity to sell.
On the downside, 1.3480 remains a key support which need to be clearly broken to the downside to resume the bearish phase targeting 1.3330 region.
The GBPUSD had a bullish momentum earlier today in Asian session after another failure to make a clear break below 1.3480 key support, hit 1.3569.
The bias is bullish in nearest term testing 1.3600 but as long as stay below 1.3710 I still prefer a bearish scenario and any upside pullback should be seen as a good opportunity to sell. On the downside, a clear break and daily close below 1.3480 would expose 1.3330 region.
The GBPUSD attempted to push higher yesterday topped at 1.3569 but closed lower at 1.3514. The bias is neutral in nearest term and there are no changes in my technical outlook. Price has been moving sideways between 1.3617 – 1.3450 for almost two weeks now and we need a clear break from that range area to see clearer direction.
As long as stay below 1.3710 I remain bearish but need a clear break below 1.3480/50 strong support to resume the bearish phase testing 1.3330 region.
The GBPUSD had a moderate bearish momentum last week broke below 1.3480 key support as you can see on my daily chart below. This fact suggests further bearish scenario targeting 1.3330 area.
Immediate resistance is seen around 1.3480. A clear break and daily close back above that area would interrupt the bearish outlook testing 1.3530 – 1.3570 region but as long as stay below 1.3710 I still prefer a bearish scenario at this phase and any upside pullback should be seen as a good opportunity to sell.
The GBPUSD had a bearish momentum yesterday bottomed at 1.3390. The bias is bearish in nearest term testing 1.3330 area.
Immediate resistance is seen around 1.3440. A clear break above that area could lead price to neutral zone in nearest term testing 1.3480 but as long as stay below 1.3710 I remain bearish and any upside pullback should be seen as a good opportunity to sell. On the downside, a clear break and daily close below 1.3330 would expose 1.3265 or lower.
