Daily Pivots: (S1) 1.3676; (P) 1.3711; (R1) 1.3771; More

Outlook in GBP/USD remains bullish as long as 1.3518 support intact. Current up trend from 1.1409 should target 61.8% projection of 1.1409 to 1.3482 from 1.2675 at 1.3956. On the downside, however, firm break of 1.3518 will confirm short term topping, and turn intraday bias back to the downside for channel support (now at 1.3398) first.

In the bigger picture, rise from 1.1409 medium term bottom is in progress. Further rally would be seen to 1.4376 resistance and above. On the downside, break of 1.2675 support is needed to indicate completion of the rise. Otherwise, outlook will stays cautiously bullish in case of pullback.



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