Daily Pivots: (S1) 1.3505; (P) 1.3583; (R1) 1.3631; More…
GBP/USD’s break of 55 D EMA (now at 1.3486) suggests that rebound from 1.3140 has completed at 1.3725. Fall from there is seen as the third leg of the corrective pattern from 1.3787. Intraday bias is back on the downside for 1.3332 support first. Break there will target 1.3140 support next. On the upside, above 1.3561 minor resistance will turn intraday bias neutral again first.
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 1.3151) holds, even in case of deep pullback.
 suggests that rebound from 1.3140 has completed at 1.3725. Fall from there is seen as the third leg of the corrective pattern from 1.3787. Intraday bias is back on the downside for 1.3332 support first. Break there will target 1.3140 support next. On the upside, above 1.3561 minor resistance will turn intraday bias neutral again first.){kind=link}