Daily Pivots: (S1) 1.3281; (P) 1.3355; (R1) 1.3398; More…
A temporary top is formed at 1.3429 in GBP/USD and intraday bias is turned neutral first. Some consolidations would be seen but outlook will stay bullish as long as 1.3265 resistance turned support holds. Above 1.3429 will extend larger rally to 100% projection of 1.2664 to 1.3265 from 1.3000 at 1.3601 next. Nevertheless, break of 1.3265 will turn bias to the downside for deeper pullback.
In the bigger picture, up trend from 1.0351 (2022 low) is in progress. Next target is 61.8% projection of 1.0351 to 1.3141 from 1.2298 at 1.4022. For now, outlook will stay bullish as long as 1.3000 support holds, even in case of deep pullback.
