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GBP/USD Daily Analysis 06-June-2022

GBP/USD Daily Analysis

Intraday bias in GBP/USD stays neutral for the moment. On the downside, the break of 1.2457 minor support will suggest that a rebound from 1.2154 has been completed. Intraday bias will be back on the downside for resting this low. On the upside, above 1.2666 will target 55 days EMA (now at 1.2722) and above.

In the bigger picture, fall from 1.4248 (2018 high) could be a leg inside the pattern from 1.1409 (2020 low), or resuming the longer term down trend. A deeper decline is expected as long as 1.2999 support turned resistance holds. On resumption, the next target is 1.1409 low.

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