Every day Pivots: (S1) 1.2276; (P) 1.2307; (R1) 1.2344; Extra
Intraday bias in GBP/US stays on the upside as rebound from 1.2306 quick time period backside is in progress. Agency break of close to time period channel resistance (now at 1.2334) will goal 38.2% retracement of 1.3141 to 1.2036 at 1.2458 subsequent. Nonetheless, break of 1.2210 minor assist will revive close to time period bearishness and convey retest of 1.2036 low.
Within the greater image, fall from 1.3141 medium time period high may nonetheless be a correction to up development from 1.0351 (2022 low) solely. However danger of full development 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 1.2440) holds, in case of rebound.
