Daily Pivots: (S1) 1.3396; (P) 1.3436; (R1) 1.3473; More…
GBP/USD is staying in consolidations below 1.3476 and intraday bias remains neutral. Further is expected as long as 1.3344 minor support holds. Correction from 1.3787 should have completed with three waves down to 1.3140. Above 1.3476 will target 1.3587 resistance first. However, break of 1.3344 minor support will dampen this bullish case, and turn bias to the downside for deeper fall.
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 1.3068) holds, even in case of deep pullback.
