Each day Pivots: (S1) 1.2237; (P) 1.2293; (R1) 1.2352; Extra…
GBP/USD’s decline continues at the moment and intraday bias stays on the draw back. Present fall from 1.3141 ought to goal 1.2075 fibonacci degree. On the upside, above 1.2369 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 high 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 convey rebound on first try. Nonetheless, sustained break of 1.2075 will increase the possibility of bearish pattern reversal.
