Daily Pivots: (S1) 1.3426; (P) 1.3442; (R1) 1.3467; More…
Intraday bias in GBP/USD stays on the upside this point. Correction from 1.3787 should have completed with three waves down to 1.3140. Further rally should be seen to 1.3587 resistance first. Firm break there will pave the way to retest 1.3787 high. However, break of 1.3344 minor support will dampen this bullish case and turn bias neutral again first.
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 1.3055) holds, even in case of deep pullback.
