Daily Pivots: (S1) 1.2930; (P) 1.2973; (R1) 1.3009; More…
No change in GBP/USD’s outlook and intraday bias remains neutral. On the downside, firm break of 1.2910 support should confirm short term topping, on bearish divergence condition in 4H MACD. In this case, intraday bias will be back on the downside for near term channel support (now at 1.2780). On the upside, though, above 1.3013 will resume the rally from 1.2099 towards 1.3433 high.
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.
. On the upside, though, above 1.3013 will resume the rally from 1.2099 towards 1.3433 high.){kind=link}