Daily Pivots: (S1) 1.3542; (P) 1.3601; (R1) 1.3634; More…
Intraday bias in GBP/USD stays neutral and some consolidations would be seen below 1.3657. Further rally is expected as long as 1.3453 holds. Above 1.3657 will target 61.8% projection of 1.3158 to 1.3598 from 1.3453 at 1.3725 first. Firm break there will target a retest on 1.3867 high.
In the bigger picture, current development suggests that price actions from 1.3867 are merely a corrective pattern within the broader up trend from 1.0351 (2022 low). With 1.3008 support intact, medium term bullishness is maintained and break of 1.3867 is in favor for a later stage, towards 1.4248 key resistance (2021 high).
