Daily Pivots: (S1) 1.2932; (P) 1.2979; (R1) 1.3056; More…
GBP/USD accelerates higher today and intraday bias stays on the upside. Current rally from 1.2099 will target 61.8% projection of 1.2248 to 1.3013 from 1.2878 at 1.3351. On the downside, below 1.3101 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.
In the bigger picture, up trend from 1.3051 (2022 low) is not completed. Resumption is expected after corrective pattern from 1.3433 completes. Next target will be 1.4248 key resistance (2021 high). This will now remain the favored case as long as 1.2099 support holds.
