Day by day Pivots: (S1) 1.2659; (P) 1.2732; (R1) 1.2784; Extra…
Intraday bias in GBP/USD stays on the draw back as fall from 1.3141 is in progress. Deeper decline can be seen to 38.2% retracement of 1.1801 to 1.3141 at 1.2629, as a correction to rise from 1.1801. On the upside, above 1.2886 minor resistance will flip bias again to the upside for stronger rebound.
Within the larger image, so long as 1.2678 resistance turned assist holds, rise from 1.0351 (2022 low) is anticipated to proceed via 1.3141 excessive at a later stage. Nonetheless, sustained break of 1.2678 will argue that it’s no less than correcting this rally, with danger of bearish reversal. Deeper fall can be seen to 1.2306 assist subsequent.
