Intraday bias in GBP/USD remains mildly on the upside at this point, and further rise should be seen to 1.3557 resistance. Firm break there will resume the rise from 1.3139 and target 100% projection of 1.3139 to 1.3557 from 1.3272 at 1.3690. On the downside, below 1.3433 minor support will turn intraday bias neutral again first.
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.
