Day by day Pivots: (S1) 1.2104; (P) 1.2164; (R1) 1.2206; Extra
With 1.2224 minor resistance intact, intraday bias in GBP/USD stays mildly on the draw back. Deeper fall can be seen to retest 1.2036 low. Agency break will resume entire decline from 1.3141 for 1.1801 assist subsequent. On the upside, above 1.2224 minor resistance will flip intraday bias impartial first. However threat will keep on the draw back so long as 1.2336 resistance holds.
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 best way to 61.8% retracement at 1.1417. For now, threat will keep on the draw back so long as 55 D EMA (now at 1.2418) holds, in case of rebound.
