Intraday bias in GBP/USD remains on the downside at this point. Fall from 1.3675 should target 1.3272 support. Firm break there will target 1.3139. For now, risk will stay on the downside as long as 1.3473 support turned resistance holds, in case of recovery.
In the bigger picture, price actions from 1.3867 are 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). However, firm break of 1.3008 will at least bring deeper fall to 38.2% retracement of 1.0351 to 1.3867 at 1.2524, with increased risk of bearish reversal.
