Daily Pivots: (S1) 1.3415; (P) 1.3437; (R1) 1.3457; More…
Immediate focus is back on 1.3549 as GBP/USD’s rebound accelerates higher. Firm break there will resume the rise from 1.3140 through 1.3594 resistance for retesting 1.3787 high. For now, risk will be on the upside as long as 1.3332 support holds, in case of retreat.
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 1.3104) holds, even in case of deep pullback.
