Daily Pivots: (S1) 1.1729; (P) 1.1878; (R1) 1.2016; More…
Intraday bias in GBP/USD remains on the upside for the moment. Current rise from 1.0351 should target 100% projection of 1.0351 to 1.1494 from 1.1145 at 1.2288. On the downside, break of 1.1708 minor support will turn intraday bias neutral and bring consolidation again, before staging another rally.
In the bigger picture, rise from 1.0351 medium term bottom is at least correcting whole down trend from 1.4248 (2021 high). Further rise is expected as long as 1.1145 support holds. Next target is 61.8% retracement of 1.4248 to 1.0351 at 1.2759.
