Daily Pivots: (S1) 1.3499; (P) 1.3528; (R1) 1.3574; More…
Intraday bias in GBP/USD remains on the upside at this point. Firm break of 1.3594 resistance will resume the rally from 1.3140 and target a retest on 1.3787 high. On the downside, below 1.3480 minor support will turn intraday bias neutral first. But risk will stay 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 1.3132) holds, even in case of deep pullback.
