GBP/USD rebounded strong after dipping to 1.3135 but stays below 1.3310 resistance. Intraday bias remains neutral first. Further decline is still in favor. Below 1.3135 will extend the fall from 1.3675 to 1.3008 key support next. However, considering firm break of 1.3310 will turn bias back to the upside for stronger rebound to 55 D EMA (now at 1.3361) 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.
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