Daily Pivots: (S1) 1.3644; (P) 1.3678; (R1) 1.3714; More…
GBP/USD’s rally continues today and intraday bias stays on the upside. Firm break of 1.3787 resistance will confirm larger up trend resumption. Next near term target is 100% projection of 1.3008 to 1.3567 from 1.3342 at 1.3901. On the downside, below 1.3662 minor support will turn intraday bias neutral. But retreat should be contained by 1.3567 resistance turned support to bring another rally.
In the bigger picture, price actions from 1.3787 (2025 high) are seen as a correction to the larger up trend from 1.3051 (2022 low). That might have completed at 1.3008 already. Firm break of 1.3787 will confirm up trend resumption. Next target is 1.4284 key resistance (2021 high). This will remain the favored case as long as 1.3008 support holds.
