The pair traded within a range with a bearish bias after the recent recovery from the 1.3460 area began to lose strength. GBP/USD remains inside a corrective structure, but the rebound has been uneven and has repeatedly stalled below the recent swing highs. This suggests that buyers are still active on dips, yet they have not regained enough momentum to restore a clean bullish intraday trend.
For the full trading day, the pair is sitting near a key mid-range control zone. If buyers can reclaim and hold above it, the market may try to restore part of the lost upside structure. If that zone fails to hold, the pair may rotate lower again and return to the lower half of the broader H1 range.
Current price: 1.35042
Pivot: 1.35080
Nearest support levels: S1: 1.34900, S2: 1.34720, S3: 1.34500
Nearest resistance levels: R1: 1.35220, R2: 1.35420, R3: 1.35650
Note:
Above Pivot: If the pair climbs above 1.35080 and stabilizes there, buyers may target 1.35220 and 1.35420. If the recovery broadens during the day, the next upside objective may come at 1.35650.
Below Pivot: If the pair remains below 1.35080, bearish pressure may return toward 1.34900 and 1.34720. A deeper daily pullback would then expose 1.34500.
