The GBPUSD had a bearish momentum yesterday bottomed at 1.3847. The bias is bearish in nearest term especially if price able to make a clear break below 1.3835 testing 1.3750 area.
Immediate resistance is seen around 1.3935. A clear break above that area could lead price to neutral zone in nearest term testing 1.3978 region. Overall I remain bullish but as long as stay below 1.4275 price is still in a bearish correction phase.
The GBPUSD attempted to push higher yesterday topped at 1.4066 but whipsawed to the downside and closed lower at 1.3908, printed a bearish pin bar formation as you can see on my daily chart below. The bias is bearish in nearest term testing 1.3835 area. A clear break and daily/weekly close below that area could trigger a deeper bearish correction testing 1.3750 and the trend line support next week.
Immediate resistance is seen around 1.3978 – 1.4000 area. A clear break back above that area could lead price to neutral zone in nearest term as direction would become unclear. My major bullish outlook remains valid but need a clear break above 1.4275 to potentially end the current bearish correction phase and resume the major bullish trend.
The GBPUSD had a bearish momentum last week bottomed at 1.3764. Overall I remain bullish but the appearance of the bearish pin bar on Thursday on daily chart suggest further bearish correction after unable to break above 1.4275 key resistance. The bias is bearish in nearest term testing 1.3750 area.
A clear break and daily close below that area could trigger further bearish pressure testing 1.3600 region before testing the trend line support. Immediate resistance is seen around 1.3900. A clear break above that area could lead price to neutral zone in nearest term testing 1.3978 resistance area.
The GBPUSD had a bullish momentum yesterday topped at 1.3923. The bias is neutral in nearest term probably with a little bullish bias testing 1.3978 resistance area. Immediate support is seen around 1.3850. A clear break and daily close back below that area could trigger further bearish pressure testing 1.3750 area which need to be clearly broken to the downside to give further confirmation to the bearish pin bar scenario testing 1.3600 and the trend line support as you can see on my daily chart below.
On the upside, a clear break and daily close above 1.3978 would retest 1.4066 area. Overall I remain bullish but need a clear break above 1.4275 to resume the major bullish trend.
The GBPUSD continued its bearish momentum yesterday bottomed at 1.3754 and hit 1.3741 earlier today in Asian session. The bias remains bearish in nearest term testing 1.3600 region. Immediate resistance is seen around 1.3810. A clear break above that area could lead price to neutral zone in nearest term testing 1.3850 – 1.3915 region but as long as stay inside the bearish channel price is still in a valid bearish correction phase.
On the downside, a clear break and daily close below 1.3600 would expose the trend line support and 1.3500 – 1.3450 region which is a good place to buy with a tight stop loss as a clear break below the trend line support would invalidate the major bullish trend.
The GBPUSD was indecisive yesterday. There are no changes in my technical outlook. The bias remains bearish in nearest term testing 1.3600 region. Immediate resistance remains around 1.3810. A clear break above that area could lead price to neutral zone in nearest term testing 1.3850 – 1.3915 region but as long as stay inside the bearish channel price is still in a valid bearish correction phase.
On the downside, a clear break and daily/weekly close below 1.3600 would expose the trend line support and 1.3500 – 1.3450 region next week which is a good place to buy with a tight stop loss as a clear break below the trend line support would invalidate the major bullish trend.
The GBPUSD regained its bearish correction momentum last week bottomed at 1.3711 but closed a little bit higher at 1.3794. The bias is bearish in nearest term retesting 1.3711. A clear break and daily close below that area would expose 1.3600 support area.
Immediate resistance is seen around 1.3815. A clear break above that area could lead price to neutral zone in nearest term testing 1.3900 area but as long as stay inside the bearish channel price is still in a bearish correction phase. Fundamental focus will be on the US NFP number on Friday.
The GBPUSD had a bullish momentum yesterday topped at 1.3877. The bias is neutral in nearest term probably with a little bullish bias especially if price able to make a clear break above 1.3877 testing 1.3950 area but as long as stay inside the bearish channel price is still in a bearish correction phase.
Immediate support is seen around 1.3820. A clear break below that area could trigger further bearish pressure testing 1.3750 region. Fundamental focus will be on the US NFP number on Friday.
The GBPUSD was indecisive last week. Price attempted to push higher topped at 1.3929 but closed lower at 1.3846. The bias is neutral in nearest term. Immediate support is seen around 1.3750. A clear break and daily close below that area would resume the bearish correction phase testing 1.3600 and the trend line support area.
Immediate resistance is seen around 1.3930. A clear break and daily close above that area would be a serious threat to the bearish correction phase testing 1.4000 region or higher. My major bullish outlook remains intact but need a clear break at least above 1.4000 to retest 1.4275 key resistance area.
The GBPUSD continued its bullish momentum yesterday topped at 1.3993. Price slipped above the bearish channel as you can see on my daily chart below which is a serious threat to the bearish correction phase. The bias is 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 1.3930.
A clear break below that area could lead price to neutral zone in nearest term testing 1.3875 area and give the bearish correction phase another chance. On the upside, a clear break and daily close above 1.4070 – 1.4100 would retest 1.4275 key resistance. Overall I remain bullish.
