Daily Pivots: (S1) 1.3422; (P) 1.3467; (R1) 1.3492; More…
Intraday bias in GBP/USD remains neutral for the moment. Risk will stay mildly on the downside as long as 1.3631 resistance holds. Below 1.3381 will extend the corrective fall to 38.2% retracement of 1.2076 to 1.3631 at 1.3278.
In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.2923) holds, even in case of deep pullback.
