Daily Pivots: (S1) 1.3205; (P) 1.3236; (R1) 1.3291; More…
GBP/USD’s rally is still in progress despite some loss of momentum as seen in 4H MACD. Intraday bias stays on the upside for Current up trend should target 100% projection of 1.2298 to 1.3043 from 1.2664 at 1.3409. On the downside, below 1.3179 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.
In the bigger picture, up trend from 1.0351 (2022 low) is resuming. Next target is 38.2% projection of 1.0351 to 1.3141 from 1.2298 at 1.3364. For now, outlook will stay bullish as long as 1.2664 support holds, even in case of deep pullback.
