GBPUSD Outlook

Daily Pivots: (S1) 1.3512; (P) 1.3551; (R1) 1.3605; More...

Intraday bias in GBP/USD remains on the upside at this point. Firm break of 61.8% retracement of 1.3867 to 1.3158 at 1.3596 will extend the rise from 1.3158 to retest 1.3867 high. On the downside, below 1.3483 minor support will turn intraday bias neutral first.

In the bigger picture, current development suggests that price actions from 1.3867 are merely 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 back in favor for a later stage, towards 1.4248 key resistance (2021 high).

Daily Pivots: (S1) 1.3422; (P) 1.3466; (R1) 1.3551; More...

Intraday bias in GBP/USD remains on the upside for 61.8% retracement of 1.3867 to 1.3158 at 1.3596. Decisive break there will extend the rise from 1.3158 to retest 1.3867 high. For now, further rally will remain in favor as long as 1.3379 support holds, in case of retreat.

In the bigger picture, current development suggests that price actions from 1.3867 are merely 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 back in favor for a later stage, towards 1.4248 key resistance (2021 high).

Daily Pivots: (S1) 1.3422; (P) 1.3466; (R1) 1.3551; More...

GBP/USD's rebound from 1.3158 resumed after brief consolidations. Intraday bias is back on the upside for 61.8% retracement of 1.3867 to 1.3158 at 1.3596. Firm break there will bring retest of 1.3867 high. For now, further rally will remain in favor as long as 1.3379 support holds, in case of retreat.

In the bigger picture, current development suggests that price actions from 1.3867 are merely 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 back in favor for a later stage, towards 1.4248 key resistance (2021 high).