The GBPUSD had a moderate bullish momentum yesterday topped at 1.2249. The bias is bullish in nearest term testing 1.2300 area. Immediate support is seen around 1.2170. A clear break below that area could lead price to neutral zone in nearest term testing 1.2135 or lower but key support remains at 1.2000.
Overall I remain bearish but as long as stay above 1.2000 the hammer formation bullish correction/reversal scenario should remain valid.
The GBPUSD had a bullish momentum yesterday topped at 1.2249. The bias is bullish in nearest term testing 1.2300/50 area. Immediate support is seen around 1.2190. A clear break below that area could lead price to neutral zone in nearest term testing 1.2150 or lower.
Overall I remain bearish but as long as stay above 1.2000 key support the hammer formation bullish correction/reversal scenario should remain valid.
The GBPUSD was indecisive yesterday. As you can see on my H1 chart below, price has been moving sideways after hit 1.2000 key support. The bias remains bullish in nearest term testing 1.2300/50 area. Immediate support is seen around 1.2220. A clear break below that area could lead price to neutral zone in nearest term testing 1.2150 area.
Overall I remain bearish but as long as stay above 1.2000 key support, the hammer formation bullish correction/reversal scenario (daily chart) should remain valid.
The GBPUSD had a bullish momentum yesterday topped at 1.2354 but closed lower at 1.2302. The bias remains bullish in nearest term especially if price able to make a clear break and consistent movement above 1.2330/50 targeting 1.2450 area. Immediate support is seen around 1.2270. A clear break below that area could lead price to neutral zone in nearest term testing 1.2220/00 area.
Overall I remain bearish but as long as stay above 1.2000 key support, the hammer formation bullish correction/reversal scenario (daily chart) should remain valid.
The GBPUSD continued its bullish momentum yesterday broke above 1.2330, topped at 1.2494. The bias remain bullish in nearest term testing 1.2600 area. Immediate support is seen around 1.2430. A clear break below that area could lead price to neutral zone in nearest term testing 1.2370.
On the upside, a clear break and daily/weekly close above 1.2600 would expose 1.2790 next week as a part of the hammer formation (daily chart) bullish correction/reversal scenario.
The GBPUSD had a bullish momentum last week closed at 1.2518 but gapped lower earlier today opened at 1.2450. The bias remains bullish in nearest term testing 1.2600. Immediate support is seen around 1.2450. A clear break back below that area could lead price to neutral zone in nearest term but as long as stay above 1.2330 price is still in a valid bullish phase as a part of the hammer formation bullish scenario (daily chart).
On the upside, a clear break and daily close above 1.2600 could trigger further bullish pressure testing 1.2790 this week.
The GBPUSD had a bearish momentum yesterday bottomed at 1.2379. The bias is bearish in nearest term testing 1.2330 support area which is a good place to buy with a tight stop loss. Immediate resistance is seen around 1.2450. A clear break above that area could lead price to neutral zone in nearest term testing 1.2500 or higher.
On the downside, a clear break and daily close back below 1.2330 would interrupt the bullish phase testing 1.2220/00 area but only a clear break below 1.2000 key support would cancel the hammer formation (daily chart) bullish correction/reversal scenario.
The GBPUSD was indecisive yesterday but overall still able to maintain its bearish intraday bias. The bias remains bearish in nearest term testing 1.2330 support area which remains a good place to buy with a tight stop loss. Immediate resistance remains around 1.2450. A clear break above that area could lead price to neutral zone in nearest term testing 1.2500 or higher.
On the downside, a clear break and daily close back below 1.2330 would interrupt the bullish phase testing 1.2220/00 area but only a clear break below 1.2000 key support would cancel the hammer formation (daily chart) bullish correction/reversal scenario. Fundamental focus will be on the US election result which could create a volatile market.
The GBPUSD attempted to push higher yesterday topped at 1.2546 but whipsawed to the downside and hit 1.2351 in a volatile market on US election day which put Donald Trump in the White House. The bias is neutral in nearest term but as long as stay above 1.2330 price is still in a bullish phase.
Immediate resistance is seen around 1.2450. A clear break above that area could trigger further bullish pressure retesting 1.2546. On the downside, 1.2330 remains a key support and good place to buy with a tight stop loss.
The GBPUSD had a bullish momentum yesterday topped at 1.2584. The bias is bullish in nearest term especially if price able to make a clear break above 1.2600 testing 1.2650 – 1.2700 region as a part of the hammer formation bullish correction/reversal scenario (daily chart).
Immediate support is seen around 1.2500. A clear break below that area could lead price to neutral zone in nearest term testing 1.2450 area but key support is seen at 1.2330 which remains a good place to buy with a tight stop loss.
