The GBP/USD pair is still trading within a broader bearish intraday structure after a heavy decline pushed the market to fresh short-term lows. The rebound seen from the bottom is noticeable, but it remains limited in scope and still looks like a corrective recovery inside a weaker trend. For the full session, attention should be placed on whether buyers can extend the rebound above the first resistance band or whether the pair will fail there and resume the dominant downside move. The market has improved from the extreme low, but it has not yet regained a neutral structure.
Current price: 1.34147
Pivot: 1.3422
Nearest support levels: S1: 1.3385, S2: 1.3356, S3: 1.3324
Nearest resistance levels: R1: 1.3442, R2: 1.3471, R3: 1.3505
Note: If the pair stays below the pivot at 1.3422, sellers may regain control and push the market back toward 1.3385. A deeper move below that support would open the way to 1.3356 and 1.3324 later in the day. If GBP/USD rises above 1.3422, the corrective rebound may extend toward 1.3442 and 1.3471. Only a firm recovery above 1.3471 would noticeably weaken the current bearish structure, while 1.3505 represents the upper limit of a stronger corrective scenario for the session.
