GBP/USD Mid-Day Outlook

USD/CHF’s rebound from 0.8431 extended to 0.8747 last week, but failed to sustain above 38.2% retracement of 0.9223 to 0.8431 at 0.8734 and retreated. Initial bias remains neutral this week first. On the upside, sustained break of 0.8734 will extend to 61.8% retracement at 0.8920, even as a corrective move. On the downside, break of […]

Daily Pivots: (S1) 0.8678; (P) 0.8710; (R1) 0.8729; More…. USD/CHF retreated after failing to sustain above 0.8727 resistance. Intraday bias is turned neutral again. For now, further rally is expected as long as 0.8550 support holds. Break of 0.8740 will resume the rebound from 0.8332 to 61.8% retracement of 0.9243 to 0.8332 at 0.8995 next. […]

Daily Pivots: (S1) 0.8667; (P) 0.8691; (R1) 0.8713; More… For now, further rally could still be seen in EUR/GBP with 0.8649 intact. Rebound from 0.8548 could extend to 0.8764 key resistance. Nevertheless, break of 0.8649 will argue that the rebound has completed, and turn bias back to the downside for 0.8548 support instead. In the […]