Daily Pivots: (S1) 1.3239; (P) 1.3273; (R1) 1.3300; More…
GBP/USD’s break of 1.3265 resistance turned support suggests short term topping at 1.3433, on bearish divergence condition in 4H MACD. Intraday bias is back on the downside for 55 D EMA (now at 1.3090), and possibly below. But strong support is expected from 1.3000 cluster (38.2% retracement of 1.2298 to 1.3433 at 1.2999 to bring rebound.
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.
, and possibly below. But strong support is expected from 1.3000 cluster (38.2% retracement of 1.2298 to 1.3433 at 1.2999 to bring rebound.){kind=link}