The GBP/USD pair is trying to stabilize after a heavy multi-session decline, but the H1 structure still looks fragile and corrective rather than bullish. The market found temporary support near the lower part of the weekly range, yet buyers have so far failed to produce a sustained recovery above the nearest overhead barriers. This keeps the pair in a vulnerable position: it can still rebound intraday, but unless the price regains higher resistance levels, the broader day structure continues to favor selling pressure on rallies.
Current price: 1.35197
Pivot: 1.3525
Nearest support levels: S1: 1.3505, S2: 1.3488, S3: 1.3470
Nearest resistance levels: R1: 1.3545, R2: 1.3562, R3: 1.3585
Note: If the pair stays below the pivot at 1.3525, the market may remain under bearish pressure and retest 1.3505 and 1.3488. A deeper extension would then expose 1.3470 as the next support for the day. If buyers manage to push the pair back above 1.3525 and hold there, a corrective rise may unfold toward 1.3545 and 1.3562. If bullish momentum improves further, 1.3585 becomes the next upside objective, although that scenario would still be considered corrective unless the market fully rebuilds above the broken trend zone.
