Technical Analysis - GBPUSD near key Fib zone

• GBPUSD has traded steadily higher since finding support earlier this week at the 261.8% extension of the January/February advance
• Our near-term trend bias is now higher in Cable
• The 38% retracement of the February/April decline at 1.4940 looks to be a key pivot with traction above needed to spark a more important leg higher
• A very minor turn window is eyed tomorrow
• A daily close under 1.4680 would turn us negative on the pound

Trend:

• H4 - bullish
• D1 - market rally within bearish
• W1 - ranging bearish
  
• MN1 - bearish