Daily Pivots: (S1) 1.3615; (P) 1.3667; (R1) 1.3709; More…
GBP/USD should finally be resuming recent rally from 1.1409, with a committed break of 1.3702 resistance. Intraday bias stays on the upside for 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956. In any case, break of 1.3518 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.
In the bigger picture, rise from 1.1409 medium term bottom is in progress. Further rally would be seen to 1.4376 resistance and above. On the downside, break of 1.2675 support is needed to indicate completion of the rise. Otherwise, outlook will stays cautiously bullish in case of pullback.
