Every day Pivots: (S1) 1.2143; (P) 1.2202; (R1) 1.2298; Extra
GBP/USD dips mildly right now however stays nicely inside vary of 1.2036/2270. Intraday bias stays neutrla at this level. On the upside, agency break of 1.2270 resistance will affirm quick time period bottoming. Intraday bias will probably be again to the upside for stronger rebound. However, rejection by 1.2270 will retain close to time period bearishness. 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 danger 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, danger will keep on the draw back so long as 55 D EMA (now at 1.2446) holds, in case of rebound.
