The pair traded within a range after a volatile decline and recovery, and the latest H1 candles show that GBP/USD has stabilized above the rebound base formed near 1.3390. The pair is now consolidating in the middle-to-upper part of the short-term range, which keeps the daily outlook cautiously constructive while the market stays above the Pivot.
Current price: 1.34407
Pivot: 1.3435
Nearest support levels:
S1: 1.3420
S2: 1.3398
S3: 1.3370
Nearest resistance levels:
R1: 1.3455
R2: 1.3478
R3: 1.3505
Note:
Above Pivot: holding above 1.3435 may keep the recovery structure intact and allow the pair to test 1.3455. If buyers push through that zone, the next upside targets for the day are 1.3478 and 1.3505.
Below Pivot: a drop below 1.3435 would weaken the short-term bullish tone and shift attention back to 1.3420. If this support fails, the decline may deepen toward 1.3398 and 1.3370.
