Daily Pivots: (S1) 1.3502; (P) 1.3557; (R1) 1.3660; More…
Intraday bias in GBP/USD remains on the upside for the moment. Rise from 1.3158 is in progress for 61.8% projection of 1.3158 to 1.3598 from 1.3453 at 1.3725 first. Firm break there will target a retest on 1.3867 high. For now, risk will stay on the upside as long as 1.3453 support holds, in case of retreat.
In the bigger picture, current development suggests that price actions from 1.3867 are merely a corrective pattern within the broader up trend from 1.0351 (2022 low). With 1.3008 support intact, medium term bullishness is maintained and break of 1.3867 is back in favor for a later stage, towards 1.4248 key resistance (2021 high).
