GBP/USD Daily Outlook

The GBPUSD currency pair has been trading in a range for several days now, with no significant changes in its outlook. The daily pivot points for today are S1 at 1.2626, P at 1.2657, and R1 at 1.2693.

The intraday bias remains neutral, meaning that there is no clear direction for the currency pair to move in. However, if the GBPUSD breaks above the resistance level of 1.2708, it will indicate that the correction from the high of 1.2826 has completed. In this case, the intraday bias will shift back to the upside, and the currency pair will be retested at the 1.2826 level.

It's important to note that range trading is a common pattern in forex markets, where the currency pair moves within a specific range for an extended period of time. During this time, traders can use technical analysis tools such as pivot points and support and resistance levels to identify potential entry and exit points.

Overall, while there are no significant changes in the GBPUSD outlook at this time, traders should remain vigilant and continue to monitor the currency pair for any potential breakouts or reversals.