Daily Pivots: (S1) 1.3290; (P) 1.3329; (R1) 1.3395; More…
Intraday bias in GBP/USD remains neutral and some more consolidations could be seen above 1.3260 temporary low. Overall outlook is unchanged that corrective pattern from 1.3787 is extending. Below 1.3260 will bring deeper decline but strong support should be seen from 1.3140 cluster (38.2% retracement of 1.2099 to 1.3787 at 1.3142) to contain downside. On the upside, break of 1.3526 will bring stronger rally back to retest 1.3728/87 resistance zone.
In the bigger picture, rise from 1.0351 (2022 low) is still seen as a corrective move. Further rally could be seen to 61.8% projection of 1.0351 to 1.3433 (2024 high) from 1.2099 (2025 low) at 1.4004. But strong resistance could emerge from 1.4248 (2021 high) to limit upside. Sustained break of 55 W EMA (now at 1.3173) will argue that a medium term top has already formed and bring deeper fall back to 1.2099.
 to contain downside. On the upside, break of 1.3526 will bring stronger rally back to retest 1.3728/87 resistance zone.){kind=link}