GBP/USD Intraday: the bias remains bullish


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Long positions above 1.2195 with targets at 1.2300 & 1.2330 in extension.
Pivot: 1.2195

Our preference: long positions above 1.2195 with targets at 1.2300 & 1.2330 in extension.

Alternative scenario: below 1.2195 look for further downside with 1.2170 & 1.2140 as targets.

Comment: the RSI shows upside momentum.

Supports and resistances:
1.2365 **
1.2330 ***
1.2300 ***
1.2244 Last
1.2195 ***
1.2170 **
1.2140 ***

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GBP/USD Intraday: key resistance at 1.2205

Short positions below 1.2205 with targets at 1.2135 & 1.2110 in extension.
Pivot: 1.2205

Our preference: short positions below 1.2205 with targets at 1.2135 & 1.2110 in extension.

Alternative scenario: above 1.2205 look for further upside with 1.2265 & 1.2300 as targets.

Comment: the upward potential is likely to be limited by the resistance at 1.2205.

Supports and resistances:
1.2300 ***
1.2265 ***
1.2205 ***
1.2181 Last
1.2135 ***
1.2110 *
1.2080 *

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GBP/USD Intraday: capped by a negative trend line.

Short positions below 1.2280 with targets at 1.2215 & 1.2175 in extension.
Pivot: 1.2280

Our preference: short positions below 1.2280 with targets at 1.2215 & 1.2175 in extension.

Alternative scenario: above 1.2280 look for further upside with 1.2320 & 1.2355 as targets.

Comment: the RSI shows downside momentum.

Supports and resistances:
1.2355 ***
1.2320 **
1.2280 ***
1.2218 Last
1.2215 ***
1.2175 ***
1.2145 ***

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GBP/USD Intraday: the bias remains bullish

Long positions above 1.2215 with targets at 1.2325 & 1.2355 in extension.
Pivot: 1.2215

Our preference: long positions above 1.2215 with targets at 1.2325 & 1.2355 in extension.

Alternative scenario: below 1.2215 look for further downside with 1.2170 & 1.2130 as targets.

Comment: the RSI lacks upward momentum.

Supports and resistances:
1.2400 **
1.2355 ***
1.2325 ***
1.2273 Last
1.2215 ***
1.2170 ***
1.2130 ***

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GBP/USD Intraday: intraday support around 1.2180

Long positions above 1.2180 with targets at 1.2275 & 1.2320 in extension.
Pivot: 1.2180

Our preference: long positions above 1.2180 with targets at 1.2275 & 1.2320 in extension.

Alternative scenario: below 1.2180 look for further downside with 1.2130 & 1.2085 as targets.

Comment: the RSI lacks downward momentum.

Supports and resistances:
1.2365 ***
1.2320 ***
1.2275 ***
1.2208 Last
1.2180 ***
1.2130 ***
1.2085 ***

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GBP/USD MT: capped by a negative trend line

Short positions below 1.5000 with targets at 1.1700 & 1.1250 in extension.
Pivot: 1.5000

Our preference: short positions below 1.5000 with targets at 1.1700 & 1.1250 in extension.

Alternative scenario: above 1.5000 look for further upside with 1.5940 & 1.6525 as targets.

Comment: The pair remains capped by a declining trend line and is posting new lows. Further weakness is therefore likely towards 1.17 and 1.1250.

Supports and resistances:
1.6525
1.5940
1.5000
1.2158 Last
1.1700
1.1250
1.0750

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GBP/USD Intraday: key resistance at 1.2330

Short positions below 1.2330 with targets at 1.2165 & 1.2085 in extension.
Pivot: 1.2330

Our preference: short positions below 1.2330 with targets at 1.2165 & 1.2085 in extension.

Alternative scenario: above 1.2330 look for further upside with 1.2400 & 1.2485 as targets.

Comment: the RSI is mixed to bearish.

Supports and resistances:
1.2485 ***
1.2400 ***
1.2330 ***
1.2218 Last
1.2165 ***
1.2085 ***
1.2010 *

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GBP/USD Intraday: capped by a negative trend line

Short positions below 1.2400 with targets at 1.2225 & 1.2120 in extension.
Pivot: 1.2400

Our preference: short positions below 1.2400 with targets at 1.2225 & 1.2120 in extension.

Alternative scenario: above 1.2400 look for further upside with 1.2485 & 1.2600 as targets.

Comment: as long as 1.2400 is resistance, look for choppy price action with a bearish bias.

Supports and resistances:
1.2600 ***
1.2485 ***
1.2400 ***
1.2310 Last
1.2225 ***
1.2120 *
1.2010 *

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GBP/USD Intraday: the downside prevails

Short positions below 1.2615 with targets at 1.2320 & 1.2200 in extension.
Pivot: 1.2615

Our preference: short positions below 1.2615 with targets at 1.2320 & 1.2200 in extension.

Alternative scenario: above 1.2615 look for further upside with 1.2690 & 1.2770 as targets.

Comment: the RSI is mixed to bearish.

Supports and resistances:
1.2770 ***
1.2690 ***
1.2615 **
1.2431 Last
1.2320 *
1.2200 *
1.1940 ***

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GBP/USD Intraday: key resistance at 1.2775

Short positions below 1.2775 with targets at 1.2685 & 1.2640 in extension.
Pivot: 1.2775

Our preference: short positions below 1.2775 with targets at 1.2685 & 1.2640 in extension.

Alternative scenario: above 1.2775 look for further upside with 1.2815 & 1.2850 as targets.

Comment: the upward potential is likely to be limited by the resistance at 1.2775.

Supports and resistances:
1.2850 ***
1.2815 ***
1.2775 **
1.2750 Last
1.2685 **
1.2640 *
1.2590 *

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