GBP/USD Daily Analysis
Intraday bias in GBP/USD stays on the upside for the moment. The current rally from 1.0351 should target 1.2759 medium-term Fibonacci level next. For now, the outlook will stay bullish as long as 1.2205 support holds in case of retreat.
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.
