Intraday bias in GBP/USD stays neutral for consolidations above 1.32303. Further fall is expected as long as 1.3334 support turned resistance holds. Below 1.3203 will target 1.3139 support next. Nevertheless, break of 1.3334 will indicate short term bottoming, and bring stronger rebound.
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.
