The GBP/USD pair has moved into a corrective phase after failing to hold near the recent local highs. Despite the pullback, the broader H1 structure still suggests that the market is trading above a medium intraday base, which means the current decline may remain corrective as long as the lower supports continue to absorb selling pressure. The pivot zone is now the key level separating a recovery attempt from a broader retracement.
Current price: 1.35705
Pivot: 1.3570
Nearest support levels: S1: 1.3556, S2: 1.3538, S3: 1.3519
Nearest resistance levels: R1: 1.3589, R2: 1.3608, R3: 1.3628
Note: If the pair stabilizes above the pivot at 1.3570, a rebound toward 1.3589 and 1.3608 becomes likely. If bullish momentum strengthens further, the pair may retest 1.3628 later in the day. If the price remains below the pivot or breaks back under it after a brief recovery, sellers may extend the move toward 1.3556 and 1.3538, with 1.3519 as the deeper downside target.
