GBP/USD Daily Analysis
Intraday bias in GBP/USD stays neutral for the moment. Further rally is expected as long as 1.1898 support holds. Above 1.2343 will resume the rise from 1.0351 and target 1.2759 medium-term Fibonacci level next. However, a firm break of 1.1898 support will confirm short-term topping and turn bias back to the downside.
In the bigger picture, the rise from the 1.0351 medium-term bottoms is at least correcting the downtrend from 1.4248 (2021 high). Further rise is expected as long as 1.1644 resistance turned support holds. The next target is a 61.8% retracement of 1.4248 to 1.0351 at 1.2759. A sustained break there will pave the way back to 1.4248.
