The pair traded within a broad recovery channel after the late-week rebound, but the latest move has stalled just below the upper intraday range. GBP/USD recovered well from the 1.3520–1.3530 zone and climbed back into the 1.3580 area, yet buyers have not produced a clean continuation breakout. This leaves the market in a transitional phase: technically constructive, but still needing confirmation for a full-day bullish extension.
For the entire session, the main focus is whether the pair can hold above the pivot and maintain a structure of higher intraday lows. If that happens, the market can push toward the recent range top and attempt another upside break. If the pivot fails, the latest rise may prove to be only a rebound inside a broader sideways correction. So the daily picture is mildly bullish, but not decisively so until resistance starts giving way.
Current price: 1.35798
Pivot: 1.35720
Nearest support levels: S1: 1.35620, S2: 1.35420, S3: 1.35180
Nearest resistance levels: R1: 1.35980, R2: 1.36220, R3: 1.36480
Note:
Above Pivot: If the pair remains above 1.35720, buyers may continue the recovery toward 1.35980 and 1.36220. If bullish momentum expands through the day, the next upside target may come at 1.36480.
Below Pivot: If the pair slips below 1.35720, a broader pullback may develop toward 1.35620 and 1.35420. A deeper daily correction would then expose 1.35180.
