Daily Pivots: (S1) 1.3109; (P) 1.3133; (R1) 1.3152; More…
Intraday bias in GBP/USD remains neutral for the moment and consolidation from 1.3265 might still extend. On the downside, break of 1.3000 will bring deeper correction to 55 D EMA (now at 1.2968) and possibly below. On the upside, firm break of 1.3265 resistance will resume larger rally to 1.3364 projection level next.
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.
 and possibly below. On the upside, firm break of 1.3265 resistance will resume larger rally to 1.3364 projection level next.){kind=link}