Each day Pivots: (S1) 1.2141; (P) 1.2183; (R1) 1.2246; Extra…
Intraday bias in GBP/USD stays impartial at this level. Restoration from 1.2109 might nonetheless lengthen greater. However close to time period danger will keep on the draw back so long as 1.2420 turned resistance holds. Fall from 1.3141 remains to be in favor to proceed. On the draw back, decisive break of 1.2075 fibonacci stage would carry bigger bearish implication and goal 1.1801 help subsequent.
Within the greater image, fall from 1.3141 medium time period prime might nonetheless be a correction to up pattern from 1.0351 (2022 low) solely. However danger 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, danger will keep on the draw back so long as 55 D EMA (now at 1.2526) holds, in case of rebound.
