GBP/USD Daily Outlook

GBP/USD remains in a consolidation phase below the 1.3675 resistance level, keeping the intraday bias neutral. Despite the temporary pause, the broader technical outlook indicates that further upside is anticipated as long as key support at 1.3518 holds. A decisive breakout above the 100% Fibonacci projection level at 1.3690 (measured from 1.3139 to 1.3557 from 1.3272) would clear the path for a retest of the recent 1.3867 high. From a larger perspective, price movements from the 1.3867 level are viewed as corrective within the overarching multi-year uptrend that started from the 2022 low of 1.0351. Medium-term bullish momentum is projected to remain intact as long as major structural support at 1.3008 is defended. A successful breakout above 1.3867 would favor a push toward the 2021 high of 1.4248. Conversely, a sustained break beneath 1.3008 would signal a deeper correction toward the 38.2% retracement level at 1.2524, significantly increasing the probability of a bearish trend reversal.