Daily Pivots: (S1) 1.3502; (P) 1.3549; (R1) 1.3576; More…
GBP/USD is still extending consolidations below 1.3594 temporary top and intraday bias remains neutral. Further rally is expected as long as 1.3398 support holds. Above 1.3594 will extend the rise from 1.3140 to retest 1.3787 high.
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.
