Daily Pivots: (S1) 1.3236; (P) 1.3279; (R1) 1.3347; More…
Intraday bias in GBP/USD remains neutral at this point. Risk will stay mildly on the downside as long as 1.3442 short term top holds. Below 1.3211 will target 55 D EMA (now at 1.3058). However, sustained break of 1.3433/42 resistance zone will confirm larger up trend resumption.
In the bigger picture, price actions from 1.3433 are seen as a corrective pattern to the up trend from 1.3051 (2022 low). Rise from 1.2099 could either be resuming the up trend, or the second leg of a consolidation pattern. Overall, GBP/USD should target 1.4248 key resistance (2021 high) on decisive break of 1.3433 at a later stage.
. However, sustained break of 1.3433/42 resistance zone will confirm larger up trend resumption.){kind=link}