Daily Pivots: (S1) 1.3704; (P) 1.3746; (R1) 1.3789; More…
A temporary top is formed at 1.3787 in GBP/USD with break of 1.3673 minor support. Intraday bias is turned neutral for consolidations. But downside should be contained above 1.3369 support to bring another rally. Firm break of 1.3787 will resume larger rise to 1.4004 projection level next.
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 1.2983) holds, even in case of deep pullback.
