Daily Pivots: (S1) 1.3685; (P) 1.3713; (R1) 1.3764; More….
Intraday bias in GBP/USD remains neutral for the moment. Some consolidations could be seen but further rally is expected with 1.3564 support intact. On the upside, break of 1.3758 will extend the up trend from 1.1409 to 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956 next. On the downside, break of 1.3564 support will turn bias to the downside for deeper correction instead.
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.
