Each day Pivots: (S1) 1.2141; (P) 1.2183; (R1) 1.2246; Extra…
Intraday bias in GBP/USD stays impartial as consolidation from 1.2109 is extending. Stronger restoration can’t be dominated out. However close to time period threat will keep on the draw back so long as 1.2420 turned resistance holds,. On the draw back, decisive break of 1.2075 fibonacci degree would carry bigger bearish implication and goal 1.1801 assist subsequent.
Within the greater image, fall from 1.3141 medium time period prime may 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.
