Daily Pivots: (S1) 1.3353; (P) 1.3410; (R1) 1.3442; More…
Immediate focus is now on 1.3369 as GBP/USD fall from 1.3787 extends. Decisive break there will suggests that deeper correction is underway. Intraday bias will be back on the downside for 1.3138 cluster support (38.2% retracement of 1.2099 to 1.3787 at 1.3142). On the upside though, break of 1.3561 support turned resistance will bring retest of 1.3787 high first.
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 1.3019) holds, even in case of deep pullback.
. On the upside though, break of 1.3561 support turned resistance will bring retest of 1.3787 high first.){kind=link}