Day by day Pivots: (S1) 1.2197; (P) 1.2217; (R1) 1.2248; Extra…
Intraday bias in GBP/USD stays mildly on the draw back at this level. Corrective rebound from 1.2036 ought to have accomplished with three waves as much as 1.2426. Deeper fall ought to be seen to retest 1.2036/68 help zone subsequent. Agency break there’ll resume bigger down pattern from 1.3141. On the upside, above 1.2307 minor resistance will flip intraday bias impartial first.
Within the greater image, rejection by 38.2% retracement of 1.3141 to 1.2036 at 1.2458, suggests fall from 1.3141 remains to be in progress. Sustained break of 38.2% retracement of 1.0351 (2022 low) to 1.3141 at 1.2075 will convey deeper decline to 61.8% retracement at 1.1417, even simply as a corrective transfer.
