Daily Pivots: (S1) 1.3530; (P) 1.3556; (R1) 1.3587; More…
Intraday bias in GBP/USD remains neutral and more consolidations could be seen below 1.3590. Further rally is expected as long as 1.3332 support holds. Firm break of 1.3594 will resume the rebound from 1.3140 to retest 1.3787 high. Decisive break there will resume larger up trend.
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 1.3118) holds, even in case of deep pullback.
