Daily Pivots: (S1) 1.3626; (P) 1.3654; (R1) 1.3672; More…
No change in GBP/USD’s outlook as consolidations continue below 1.3787. Intraday bias stays neutral at this point. Deeper pullback cannot be ruled out, but downside should be contained by 1.3369 support to bring rebound. Firm break of 1.3787 will resume larger up trend to 100% projection of 1.2099 to 1.3206 from 1.3138 at 1.3813.
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 1.2985) holds, even in case of deep pullback.
