The violation of 1.1390 signals a completion of the downtrend since 1.1570 high and the bias is rather positive, with a risk of a rise towards 1.1490. It is still unclear if the rebound above 1.1290 is only a corrective pattern, but an eventual slide below 1.1390, to 1.1330 support will confirm such a scenario.
My outlook here is counter-trend, for a reversal below 1.1490 and slide towards 1.1390, en route to 1.1330.
------------------------------------------------------------------------------------------------------------------------------------------------------- GBP/USD Current level - 1.3082
The slide below 1.3135 support signals a reversal of the whole rise since 1.2830 low and the outlook is bearish, for a dip to 1.3000, en route to 1.2930. Initial intraday resistance lies at 1.3135.
I still favor a dip to 1.3000 area and while the whole pattern below 1.3210 remains corrective, the outlook on the senior frames will be positive, for a rise towards 1.3290.
The violation of 109.10 hurdle has neutralized the negative bias and the outlook is positive, for a test of 110.20 hurdle. Crucial support is projected at 109.10.
The violation of 1.3000 led to a slide to 1.2930 support and after a brief consolidation another leg downwards should follow, for 1.2800 area. Initial intraday resistance lies at 1.3000.
As the pair approaches 1.1330 support, my outlook is already counter-trend against 1.1290 low, for a reversal and another corrective leg towards 1.1450.
The bounce after 1.2850 low signals a reversal of the slide since 1.3210 high and the bias is already positive, for a break through 1.3000, towards 1.3130 area.
The rebound after 1.1255 low clearly states, that the downtrend since 1.1513 high is over and my outlook here is already positive above 1.1300, for a rise towards 1.1400 area.
The failure at 1.1350 and the return below 1.1300 static support shows a negative outlook, for a test of 1.1214. A break through November's low will signal a completion of the prolonged consolidation and will challenge 1.1020 area.
Still positive, for a tight test of 111.45 and an eventual break will allow a climb towards 112.10. Initial support lies at 110.70 and crucial on the downside is 110.20.
The recent slide to 1.1230 was corrective, preceding an advance towards 1.1400 area. On the senior frames, the whole rise after 1.1230 is corrective, so expect a reversal around 1.1400 to trigger a sell-off towards 1.1214 low.
