Daily Pivots: (S1) 1.2967; (P) 1.2988; (R1) 1.3025; More…
Intraday bias in GBP/USD is turned neutral first with current retreat. Another rise is expected as long as 1.2910 support holds. Above 1.3009 will resume the rally from 1.2099 to retest 1.3433 high. However, firm break of 1.2910 will indicate short term topping, likely with bearish divergence condition in 4H MACD. That would turn intraday bias back to the downside for deeper pullback.
In the bigger picture, up trend from 1.3051 (2022 low) is not completed. Resumption is expected after corrective pattern from 1.3433 completes. Next target will be 1.4248 key resistance. This will now remain the favored case as long as 1.2099 support holds.
