The GBP/USD pair traded within a corrective decline after failing to hold above the strong recovery zone reached at the start of the week. The sharp upside impulse has faded, and the market is now moving below the recent top area, which leaves sterling vulnerable to another leg lower unless buyers reclaim the pivot region decisively. The current structure is not a clean trend continuation higher anymore; it looks more like a pullback phase inside a broader recovery attempt. For the day, the pair will likely stay sensitive to whether it can stabilize above the pivot or remain trapped under resistance.
Current price: 1.34494
Pivot: 1.34500
Nearest support levels: S1 1.34380, S2 1.34240, S3 1.34090
Nearest resistance levels: R1 1.34610, R2 1.34740, R3 1.34910
Note: Above 1.34500, the pair may try to recover toward 1.34610 and 1.34740. If buyers regain stronger control, 1.34910 becomes the next target. Below 1.34500, selling pressure may resume toward 1.34380 and 1.34240; a wider bearish extension would bring 1.34090 into focus.
