Intraday bias in GBP/USD remains neutral for the moment. More consolidations would be seen below 1.3675 but further rise is expected as long as 1.3518 support holds. Above 1.3675 will extend the rally from 1.3139 to retest 1.3867 high. However, firm break of 1.3518 will turn bias back to the downside for deeper fall.
In the bigger picture, price actions from 1.3867 are a corrective pattern within the broader up trend from 1.0351 (2022 low). With 1.3008 support intact, medium term bullishness is maintained and break of 1.3867 is in favor for a later stage, towards 1.4248 key resistance (2021 high). However, firm break of 1.3008 will at least bring deeper fall to 38.2% retracement of 1.0351 to 1.3867 at 1.2524, with increased risk of bearish reversal.
SOURCE LINK : https://www.actionforex.com/technical-outlook/gbpusd-outlook/652017-gbp-usd-daily-outlook-2473/
