Intraday bias in GBP/USD remains neutral as consolidations continue above 1.3179. Further fall is in favor as long as 1.3310 resistance holds. Below 1.3179 will extend the decline from 1.3675 to 1.3139 support next. However, considering bullish divergence condition in 4H MACD, firm break of 1.3310 will indicate short term bottoming, and turn bias back to the upside for stronger rebound.
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.
