Daily Pivots: (S1) 1.3638; (P) 1.3726; (R1) 1.3774; More…
Immediate focus is on 1.3641 minor support in GBP/USD. Firm break there will confirm short term topping at 1.3867. Intraday bias will be back on the downside for 55 D EMA (now at 1.3455). On the upside, though, break of 1.3867 will resume larger up trend towards 1.4284 key resistance.
In the bigger picture, rise from 1.0351 (2022 low) is resuming by breaking through 1.3787 high. Further rally should be seen to 1.4284 key resistance (2021 high). Decisive break there will add to the case of long term bullish trend reversal. For now, outlook will stay bullish as long as 1.3008 support holds, even in case of deep pullback.
. On the upside, though, break of 1.3867 will resume larger up trend towards 1.4284 key resistance.){kind=link}