Daily Pivots: (S1) 1.2806; (P) 1.2838; (R1) 1.2857; More…
Intraday bias in GBP/USD is turned neutral with current retreat and some consolidations would be seen below 1.2872 temporary top. But further rise is in favor as long as 1.2754 minor support holds. As noted before, pullback from 1.3043 could have completed at 1.2664 already. Above 1.2872 will target a retest on 1.3043 resistance first. However, break of 1.2754 will turn bias back to the downside for 1.2664 support instead.
In the bigger picture, as long as 1.3141 resistance holds (2023 high), medium term corrective pattern from there could still extend with another falling leg. But even in that case, downside should be contained by 1.2036/2298 support zone. Meanwhile, decisive break of 1.3141 will confirm resumption of whole up trend from 1.0351 (2022 low).
