Daily Pivots: (S1) 1.3258; (P) 1.3298; (R1) 1.3335; More…
GBP/USD is still bounded in range below 1.3442 and intraday bias stays neutral. On the downside, firm break of 1.3232 support will indicate short term topping and rejection by 1.3433 key resistance. Intraday bias will be back on the downside for deeper pullback to 55 D EMA (now at 1.3030) and possibly below. On the upside, firm break of 1.3433 key resistance confirm larger up trend resumption.
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 either be resuming the up trend, or the second leg of a consolidation pattern. Overall, GBP/USD should target 1.4248 key resistance (2021 high) on decisive break of 1.3433 at a later stage.
 and possibly below. On the upside, firm break of 1.3433 key resistance confirm larger up trend resumption.){kind=link}