Daily Pivots: (S1) 1.3884; (P) 1.3924; (R1) 1.3987; More….
Intraday bias in GBP/USD stays neutral with focus now on 4 hour 55 EMA (now at 1.3983). Sustained break above this EMA will suggest that correction from 1.4248 has completed at 1.3785 already. Intraday bias will be turned back to the upside, for stronger rise back to retest 1.4248. On the downside, below 1.3859 minor support will resume the correction to 1.3668 support and below.
In the bigger picture, as long as 1.3482 resistance turned support holds, up trend from 1.1409 should still continue. Decisive break of 1.4376 resistance will carry larger bullish implications and target 38.2% retracement of 2.1161 (2007 high) to 1.1409 (2020 low) at 1.5134. However, firm break of 1.3482 support will argue that the rise from 1.1409 has completed and bring deeper fall to 1.2675 support and below.
