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GBP/USD Daily Outlook

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Daily Pivots: (S1) 1.2774; (P) 1.2847; (R1) 1.2915;

Intraday bias in GBP/USD remains neutral for brief consolidations. Further decline remains in favor with 1.3035 minor resistance intact. Decisive break of 38.2% retracement of 1.1409 to 1.3482 at 1.2690 will argue that the rise from 1.1409 might be completed, and bring deeper fall to 61.8% retracement at 1.2201. Though, break of 1.3035 will suggest that decline from 1.3482 is merely a corrective move, and turn bias back to the upside for retesting 1.3482.

GBP/USD Daily Outlook

In the bigger picture, while the rebound from 1.1409 was strong, it’s limited by both 1.3514 resistance, as well as 55 week EMA (now at 1.3317). The development keeps outlook bearish. Sustained break of 55 week EMA (now at 1.2743) will add to medium term bearishness for a new low below 1.1409 at a later stage, resuming the down trend from 2.1161 (2007 high).

GBP/USD Daily Outlook

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Breaking this TL will possibly lead to a drop to 1.2770 again
depending on Friday's GBP/USD analysis, I set to sell near the 1.30 resistance level. After that we got a nice 80 pip drop towards 1.29. Let's see whats in store for this week
thanks for this
I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
At the beginning of the month, the price began to decline strongly. The first target is the resistance zone 1.317.

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