Each day Pivots: (S1) 1.2108; (P) 1.2138; (R1) 1.2164; Extra…
Intraday bias in GBP/USD stays on the draw back, as fall from 1.3141 is in progress to 1.2075 fibonacci degree. Decisive break there would carry bigger bearish implication and goal 1.1801 help subsequent. On the upside, above 1.2232 minor resistance will flip intraday bias impartial and produce consolidations. However close to time period outlook will keep bearish so long as 1.2618 help turned resistance holds, in case of sturdy restoration.
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 best way 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.
