Daily Pivots: (S1) 1.3700; (P) 1.3724; (R1) 1.3768; More….
GBP/USD’s break of 1.3758 resistance now suggests that up trend from 1.1409 has resumed. Intraday bias is back on the upside for 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956 next. On the downside, break of 1.3679 minor support will turn bias neutral and bring more consolidations again.
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 stay cautiously bullish even in case of deep pullback.
