The pair traded within a range after a heavy Friday sell-off and is attempting to recover from the fresh local lows. GBP/USD remains in a corrective rebound, but the broader H1 picture is still bearish after the strong breakdown from the 1.3460 area. Early-week price action may stay cautious as the market waits for U.S. inflation data and Friday’s UK GDP-related releases.
Current price: 1.33359
Pivot: 1.3348
Nearest support levels:
S1: 1.3320
S2: 1.3300
S3: 1.3280
Nearest resistance levels:
R1: 1.3358
R2: 1.3380
R3: 1.3410
Note:
Above Pivot: a move above 1.3348 may support a continuation of the rebound toward 1.3358. If buyers clear that barrier, the next upside targets may come at 1.3380 and 1.3410.
Below Pivot: if GBP/USD fails to regain 1.3348, sellers may remain in control. A break below 1.3320 may send the pair toward 1.3300 and 1.3280.
