Every day Pivots: (S1) 1.2184; (P) 1.2221; (R1) 1.2247; Extra…
Intraday bias in GBP/USD stays on the draw back at this level. Fall from 1.3141 is in progress and will goal 1.2075 fibonacci degree. On the upside, above 1.2306 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 robust restoration.
Within the greater image, fall from 1.3141 medium time period prime is seen as a correction to up pattern from 1.0351 (2022 low). Deeper decline could be seen to 38.2% retracement of 1.0351 to 1.3141 at 1.2075. Sturdy help could be seen there to deliver rebound on first try. Nonetheless, sustained break of 1.2075 will increase the possibility of bearish pattern reversal and goal 1.1801 structural help subsequent.
