Daily Pivots: (S1) 1.4145; (P) 1.4229; (R1) 1.4287; More…
GBP/USD recovers ahead of 1.4144 minor support and intraday bias stays neutral. For now, price actions from 1.4376 are viewed as developing into a consolidation pattern, even though such pattern might take a while to complete. Further rise is still expected. On the upside, break of 1.4376 will confirm up trend resumption. In that case, GBP/USD would target 61.8% projection of 1.3038 to 1.4345 from 1.3711 at 1.4519. However, on the downside, firm break of 1.4144 will be an early sign of medium term topping and turn focus back to 1.3965 support.