Daily Pivots: (S1) 1.3555; (P) 1.3603; (R1) 1.3656; More…
GBP/USD falls notably today but stays above 1.3453 support. Intraday bias remains neutral and further rally is in favor. On the upside, firm break of 1.3657 will resume the rally fro 1.3158 to retest 1.3867 high. However, decisive break of 1.3453 will argue that the rebound has already completed, and turn bias to the downside for retesting 1.3158 instead.
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 in favor for a later stage, towards 1.4248 key resistance (2021 high).
