The pair traded within a strong bullish weekly structure and starts the new month near the upper edge of the latest advance. GBP/USD exploded higher into the end of April and then shifted into a consolidation phase just under the highs instead of unwinding the move aggressively. That is an important distinction for the full-day outlook: the market is not showing panic profit-taking, but rather a controlled pause after a strong directional run. This keeps the broader tone positive, although upside follow-through may require a fresh catalyst.
For the full session, 1.35880 acts as the main pivot zone. As long as price remains above that level, the structure still favors a continuation attempt toward the upper resistance band. At the same time, the pair is already elevated, so intraday pullbacks toward support may remain part of a healthy bullish setup rather than a reversal by themselves. A loss of the pivot would be the first sign that the market is slipping from bullish consolidation into a deeper daily retracement.
Current price: 1.35939
Pivot: 1.35880
Nearest support levels: S1: 1.35720, S2: 1.35500, S3: 1.35220
Nearest resistance levels: R1: 1.36080, R2: 1.36280, R3: 1.36550
Note:
Above Pivot: If the pair remains above 1.35880, buyers may continue to target 1.36080 and 1.36280. If the bullish structure extends through the day, the next upside objective may come at 1.36550.
Below Pivot: If the pair drops below 1.35880, the market may rotate lower toward 1.35720 and 1.35500. A deeper daily correction would then expose 1.35220.
