Daily Pivots: (S1) 1.3693; (P) 1.3717; (R1) 1.3760; More…
Intraday bias in GBP/USD is back on the upside with breach of 1.3770 temporary top. Firm break of 100% projection of 1.2099 to 1.3206 from 1.3138 at 1.3813 will target 1.4004 projection level next. On the downside, below 1.3673 will turn intraday bias neutral again. But retreat should be contained above 1.3369 support to bring another rally.
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 1.2960) holds, even in case of deep pullback.
