The pair traded within a firm bullish recovery and starts Thursday close to the upper boundary of the current rebound. GBP/USD rebounded strongly from the 1.3460–1.3470 zone, rallied into the 1.3630 area, and is now consolidating around 1.3595. This is a constructive pattern for the whole day because the market has absorbed part of the previous upward impulse without fully giving it back, which usually signals that buyers are still defending the structure.
For the full trading session, the pair remains positive while price holds above the pivot and avoids a return into the deeper correction zone. A break above nearby resistance would reopen the path toward the recent highs and could extend the daily advance further. If the pair loses the pivot, however, the current consolidation may turn into a broader retracement, especially after such a strong multi-session rise. So the broader tone remains bullish, but upside continuation still needs fresh momentum.
Current price: 1.35950
Pivot: 1.35880
Nearest support levels: S1: 1.35720, S2: 1.35520, S3: 1.35240
Nearest resistance levels: R1: 1.36080, R2: 1.36320, R3: 1.36600
Note:
Above Pivot: If the pair holds above 1.35880, buyers may continue the advance toward 1.36080 and 1.36320. If the rally extends through the day, the next upside target may come at 1.36600.
Below Pivot: If the pair falls below 1.35880, a broader pullback may develop toward 1.35720 and 1.35520. A deeper daily correction would then expose 1.35240.
