Every day Pivots: (S1) 1.2184; (P) 1.2221; (R1) 1.2247; Extra…
GBP/USD’s decline is in progress and intraday bias stays on the draw back. Fall from 1.3141 ought to goal 1.2075 fibonacci stage. 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 can be seen to 38.2% retracement of 1.0351 to 1.3141 at 1.2075. Sturdy help can be seen there to convey rebound on first try. Nonetheless, sustained break of 1.2075 will elevate the prospect of bearish pattern reversal and goal 1.1801 structural help subsequent.
