The pair traded within a range with bearish pressure still dominating the broader H1 structure. GBP/USD remains weak after failing to hold the earlier recovery and slipping back into the lower half of the recent range. The market is now trading close to the lower support band, which means that sellers still have the advantage, although the pair is also approaching levels where short-term rebounds can become more active.
For the full trading day, the structure remains vulnerable while the price stays below the 1.34720 pivot zone. A recovery above that level would only signal a corrective rebound inside a broader bearish framework unless the pair can push through the higher resistance cluster. If buyers fail to reclaim the pivot, the downside structure may continue to grind lower during the day.
Current price: 1.34627
Pivot: 1.34720
Nearest support levels: S1: 1.34500, S2: 1.34320, S3: 1.34100
Nearest resistance levels: R1: 1.34780, R2: 1.34960, R3: 1.35200
Note:
Above Pivot: If the pair regains 1.34720 and stabilizes above it, buyers may target 1.34780 and 1.34960. If the correction expands during the day, the next upside objective may come at 1.35200.
Below Pivot: If the pair remains below 1.34720, bearish pressure may continue toward 1.34500 and 1.34320. A broader daily decline would then expose 1.34100.
