Daily Pivots: (S1) 1.3518; (P) 1.3551; (R1) 1.3610; More…
Intraday bias in GBP/USD remains on the upside as rise from 1.3150 continues. Firm break of 1.3587 resistance will bring retest of 1.3787 high. On the downside, below 1.3491 minor support will turn intraday bias neutral and bring consolidations first, before staging 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 1.3068) holds, even in case of deep pullback.
