Daily Pivots: (S1) 1.3517; (P) 1.3574; (R1) 1.3632; More…
GBP/USD is staying in consolidations below 1.3631 temporary top and intraday bias remains neutral. Further rally is expected as long as 1.3455 support holds. Break of 1.3631 will resume the rise from 1.2099 and target 100% projection of 1.2099 to 1.3206 from 1.3138 at 1.3813. On the downside, break of 1.3455 support should confirm short term topping, and bring deeper correction to 55 D EMA (now at 1.3320) instead.
In the bigger picture, up trend from 1.3051 (2022 low) is in progress. Next medium term target is 61.8% projection of 1.0351 to 1.3433 from 1.2099 at 1.4004. Outlook will now stay bullish as long as 55 W EMA (now at 1.2937) holds, even in case of deep pullback.
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