Daily Pivots: (S1) 1.3535; (P) 1.3560; (R1) 1.3604; More…
Intraday bias in GBP/USD is turned neutral first with current retreat. Some consolidations could be seen but risk will stay on the upside as long as 1.3363 support holds. On the upside, above 1.3587 will target a retest on 1.3787 high first. Firm break there will resume whole rally from 1.2099 to 1.4004 fibonacci level.
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 1.3017) holds, even in case of deep pullback.
