Daily Pivots: (S1) 1.3127; (P) 1.3178; (R1) 1.3211; More…
Immediate focus is now on 1.3265 resistance as GBP/USD’s rise from 1.3000 extends today. Decisive break of 1.3265 will resume larger rally 1.3364 projection level next. On the downside, however, break of 1.3145 support will turn bias to the downside, to extend the corrective pattern from 1.3265 with another leg.
In the bigger picture, up trend from 1.0351 (2022 low) is in progress. Next target is 38.2% projection of 1.0351 to 1.3141 from 1.2298 at 1.3364. For now, outlook will stay bullish as long as 1.2664 support holds, even in case of deep pullback.
