Each day Pivots: (S1) 1.2108; (P) 1.2138; (R1) 1.2164; Extra…
A brief low ought to be in place at 1.2109 in GBP/USD and intraday bias is turned impartial first. Some consolidations might be seen, and stronger restoration can’t be dominated out. However close to time period threat will keep on the draw back so long as 1.2618 help turned resistance holds. On the draw back, decisive break of 1.2075 fibonacci stage would carry bigger bearish implication and goal 1.1801 help subsequent.
Within the larger image, fall from 1.3141 medium time period high might nonetheless be a correction to up pattern from 1.0351 (2022 low) solely. However threat of full pattern reversal is rising. Sustained break of 38.2% retracement of 1.0351 to 1.3141 at 1.2075 will pave the way in which to 61.8% retracement at 1.1417. For now, threat will keep on the draw back so long as 55 D EMA (now at 1.2526) holds, in case of rebound.
