GBP/USD has slipped into a neutral intraday stance as the pair retreats and consolidates. A move back above 1.3400 would reopen the upside toward 1.3459, while 1.3008 remains the line that keeps the medium-term bullish case alive.
The immediate bias in GBP/USD has turned neutral as the pair pulls back, and some consolidation is likely before the next move. A push above 1.3400 targets the 1.3459 resistance. A firm break of that level would argue that the whole correction from 1.3867 has run its course and open the way toward 1.3657 for confirmation.
The wider picture keeps the uptrend intact. The pullback from 1.3867 reads as a corrective pattern within the broader advance from the 2022 low of 1.0351. As long as support at 1.3008 holds, the medium-term bias stays bullish, and a later break of 1.3867 would favor a run toward the 2021 high at 1.4248.
The downside case hinges on that same floor. A firm break of 1.3008 would at least bring a deeper fall toward the 38.2% retracement of the 1.0351 to 1.3867 move at 1.2524, raising the risk of a bearish reversal.
Source: ActionForex
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