Daily Pivots: (S1) 1.3063; (P) 1.3095; (R1) 1.3159; More…
Intraday bias in GBP/USD is turned neutral first with current recovery. On the upside, firm break of 1.3265 resistance will resume larger rally to 1.3364 projection next. Nevertheless, break of 1.3000 will extend the correction from 1.3265 to 55 D EMA (now at 1.2962) and possibly below.
In the bigger picture, up trend from 1.0351 (2022 low) is in progress. 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.
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