Daily Pivots: (S1) 1.3524; (P) 1.3586; (R1) 1.3678; More…
Breach of 1.3631 resistance suggests that GBP/USD is resuming recent rally. Intraday bias stays on the upside for 100% projection of 1.2099 to 1.3206 from 1.3138 at 1.3813. Outlook will now stay bullish as long as 1.3369 support holds, in case of retreat.
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 1.2948) holds, even in case of deep pullback.
