Day by day Pivots: (S1) 1.2598; (P) 1.2634; (R1) 1.2654; Extra…
Intraday bias in GBP/USD stays impartial for consolidations beneath 1.2667. Close to time period outlook will keep bullish so long as 1.2434 help holds. Break of 1.2667 will resume bigger up pattern to 1.2759 fibonacci degree first. Agency break there’ll goal 61.8% projection of 1.0351 to 1.2445 from 1.1801 at 1.3095.
Within the greater image, the rise from 1.0351 medium time period time period backside (2022 low) is in progress for 61.8% retracement of 1.4248 (2021 excessive) to 1.0351 at 1.2759. Sustained break there’ll add to the case of long run bullish pattern reversal. Additional break of 61.8% projection of 1.0351 to 1.2445 from 1.1801 at 1.3095 may immediate upside acceleration to 100% projection at 1.3895. For now, this may stay the favored case so long as 1.1801 help holds, even in case of deep pull again.
