Daily Pivots: (S1) 1.2841; (P) 1.2918; (R1) 1.3049; More…
Intraday bias in GBP/USD remains on the upside for retesting 1.3206. Firm break there will resume the rally from 1.2099 towards 1.3433 high. On the downside, below 1.2981 minor support will turn intraday bias neutral again first. While corrective pattern from 1.3206 might extend, near term outlook will stay bullish as long as 1.2706 support holds, in case of another dip.
In the bigger picture, price actions from 1.3433 are seen as a corrective pattern to the up trend from 1.3051 (2022 low). Rise from 1.2099 could be the second leg. Overall, GBP/USD should target 1.4248 key resistance (2021 high) on break of 1.3433 at a later stage.
