GBP/USD Daily Market Forecast

The intraday bias of GBP/USD has shifted to neutral amid the recent pullback. Upside risk remains as long as the 55-period 4-hour exponential moving average, currently at 1.3288, holds. A break above the temporary resistance at 1.3384 could push price toward the 1.3459 level. A decisive move above that would suggest the correction from 1.3867 is complete and aim for 1.3657 resistance; however, a sustained breach of the 55-period 4H EMA would trigger a deeper decline, testing the 1.3139 low.

In the broader context, the price movement since 1.3867 forms a corrective pattern within the longer-term uptrend that began at 1.0351 (the 2022 low). With the 1.3008 support level holding, medium-term bullish bias persists, making a break above 1.3867 likely to pave the way toward the key resistance at 1.4248 (the 2021 high). Conversely, a decisive break below 1.3008 could lead to a more pronounced decline, targeting the 38.2% retracement level of 1.0351‑1.3867 at 1.2524 and increasing the risk of a bearish reversal.

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