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GBP/USD Intraday: the bias remains bullish.

Our preference: long positions above 1.2265 with targets at 1.2310 & 1.2340 in extension.

Alternative scenario: below 1.2265 look for further downside with 1.2235 & 1.2205 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances:
1.2360
1.2340
1.2310
1.2285 Last
1.2265
1.2235
1.2205

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