Every day Pivots: (S1) 1.2134; (P) 1.2175; (R1) 1.2198; Extra…
GBP/USD’s decline continues to be in progress and intraday bias stays on the draw back. Fall from 1.3141 ought to goal 1.2075 fibonacci degree. Decisive break there would carry bigger bearish implication and goal 1.1801 help subsequent. On the upside, above 1.2232 minor resistance will flip intraday bias impartial and convey 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 larger image, fall from 1.3141 medium time period high may nonetheless be a correction to up pattern from 1.0351 (2022 low) solely. However threat of full pattern reversal is rising. Sustained break of 38.2% retracement of 1.0351 to 1.3141 at 1.2075 will pave the way in which to 61.8% retracement at 1.1417. For now, threat will keep on the draw back so long as 55 D EMA (now at 1.2541) holds, in case of rebound.
