Day by day Pivots: (S1) 1.2441; (P) 1.2478; (R1) 1.2504; Extra…
GBP/USD is extending the consolidation from 1.2443 and intraday bias stays impartial. Upside of restoration needs to be restricted by 1.2618 assist turned resistance to deliver one other fall. Break of 1.2443 will resume the decline from 1.3141 and goal 100% projection of 1.3141 to 1.2618 from 1.2799 at 1.2276.
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 can be seen to 38.2% retracement of 1.0351 to 1.3141 at 1.2075. Robust assist can be seen there to deliver rebound on first try. However outlook can be impartial at greatest so long as 1.3141 resistance holds, and consolidation from there’s set to increase, till additional improvement.
