Every day Pivots: (S1) 1.2187; (P) 1.2248; (R1) 1.2283; Extra
Intraday bias in GBP/USD stays on the draw back at this level. Corrective rebound from 1.2036 might have accomplished at 1.2426 already, simply forward of 38.2% retracement of 1.3141 to 1.2036 at 1.2458. Deeper fall could be seen again to retest 1.2036/68 help zone first. Nevertheless, on the upside, break of 1.2307 minor resistance will dampen this bearish case, and switch intraday bias impartial first.
Within the greater image, worth actions from 1.3141 medium time period high are seen as a correction to up development from 1.3051 (2022 low). Sturdy rebound from 38.2% retracement of 1.0351 to 1.3141 at 1.2075 will argue that it’s a sideway sample solely. Nevertheless, sustained break of 1.2036 will point out that it’s a deeper correction that may goal 61.8% at 1.1417 earlier than completion.
