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Daily Pivots: (S1) 196.45; (P) 197.17; (R1) 197.85; More… Intraday bias in GBP/JPY stays neutral as consolidating from 199.79 is extending. Further rally is expected as long as 55 D EMA (now at 194.48) holds. Above 199.79 will resume the rebound from 180.00 to retest 208.09 high. However, sustained break of 55 D EMA will […]

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17/05/2024

GBP/USD Daily Outlook

Daily Pivots: (S1) 1.2642; (P) 1.2672; (R1) 1.2699; More… Intraday bias in GBP/USD is turned neutral with current retreat. Some consolidations would be seen but further rally is expected as long as 1.2445 support holds. Break of 1.2708 resistance will pave the way to 1.2892 resistance next. In the bigger picture, price actions from 1.3141 […]
17/03/2024

GBP/USD Weekly Outlook

GBP/USD’s decline last week indicates short term topping at 1.2892. Initial bias remains mildly on the downside this week for 55 D EMA (now at 1.2673). Firm break there will bring deeper fall to 1.2517 structural support. For now, risk will stay mildly on the downside as long as 1.2822 minor resistance holds, in case […]
19/10/2024

GBP/USD Weekly Outlook

GBP/USD edged lower to 1.2973 last week but recovered after drawing support from 1.3000 cluster support (38.2% retracement of 1.2298 to 1.3433 at 1.2999). Initial bias remains neutral this week first. On the upside, firm break of 1.3102 resistance will argue that pullback from 1.3433 has completed, and turn bias back to the upside for […]