Intraday bias in GBP/USD is turned neutral with current retreat and some consolidations would be seen below 1.3557. Further rally is expected as long as 1.3339 support holds. Above 1.3557 will target 1.3657 resistance. Firm break there should confirm that whole corrective pattern from 1.3867 has completed at 1.3139 already.
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.
