The pair traded within a range after the previous rebound lost momentum and the market slipped back into a broader corrective phase. On H1, GBP/USD is still moving inside a descending short-term structure, and the latest bounce remains fragile while the pair stays capped below the upper intraday resistance band.
For the daily horizon, the market needs a stronger recovery above the pivot area to improve the short-term picture. Otherwise, rallies may continue to attract selling pressure, keeping the pair exposed to another move toward the lower part of the recent range.
Current price: 1.34882
Pivot: 1.34960
Nearest support levels: S1: 1.34760, S2: 1.34620, S3: 1.34440
Nearest resistance levels: R1: 1.35040, R2: 1.35220, R3: 1.35520
Note:
Above Pivot: If the price regains 1.34960 and holds above it, buyers may push the pair toward 1.35040 and 1.35220, with 1.35520 as the next broad upside target for the day.
Below Pivot: If the pair remains below 1.34960, corrective pressure may continue toward 1.34760 and 1.34620, while 1.34440 remains the next bearish objective.
