Intraday bias in GBP/USD is turned neutral with break of 1.3362 resistance. Overall outlook is unchanged that corrective pattern from 1.3867 is extending. On the downside, below 1.3272 will target 1.3139 support. Nevertheless, break of 1.3557 will extend the rebound from 1.3139 towards 1.3675 resistance instead.
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/648943-gbp-usd-daily-outlook-2453/
