Daily Pivots: (S1) 1.3500; (P) 1.3545; (R1) 1.3573; More…
Intraday bias in GBP/USD is turned neutral first with current retreat. Some consolidations would be seen but further rise is expected with 1.3332 support intact. Firm break of 1.3594 will resume the rally from 1.3140 and target a retest on 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 1.3132) holds, even in case of deep pullback.
