Every day Pivots: (S1) 1.2042; (P) 1.2131; (R1) 1.2176; Extra…
Intraday bias in GBP/USD stays on the draw back and outlook is unchanged. Sustained buying and selling under 1.2075 fibonacci stage would carry bigger bearish implication. Fall from 1.3141 ought to then goal 1.1801 assist subsequent. On the upside, break of 1.2270 resistance is required to point quick time period bottoming. In any other case, outlook will keep bearish in case of restoration.
Within the greater image, fall from 1.3141 medium time period prime may nonetheless be a correction to up development from 1.0351 (2022 low) solely. However danger of full development 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 1.2486) holds, in case of rebound.
