Daily Pivots: (S1) 1.2987; (P) 1.3067; (R1) 1.3168; More…
No change in GBP/USD’s outlook and intraday bias stays on the upside. Firm break of 1.3206 resistance will will resume the rally from 1.2099 to retest 1.3433 high. On the downside, below 1.3029 minor support will turn intraday bias neutral again first. But overall near term outlook will stay bullish as long as 1.2706 support holds.
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.
