GBP/USD is still extending consolidations from 1.3139 and intraday bias remains neutral. Upside should be limited by 1.3300 support turned resistance. Below 1.3139 will target 100% projection of 1.3867 to 1.3158 from 1.3657 at 1.2948.
In the bigger picture, price actions from 1.3867 are 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). However, firm break of 1.3008 will at least bring deeper fall to 38.2% retracement of 1.0351 to 1.3867 at 1.2524, with increased risk of bearish reversal.
