The pair traded within a range after the earlier downside wave extended and dragged the market back toward the lower part of the recent H1 structure. GBP/USD remains in a corrective bearish phase on the intraday chart: rebounds continue to lose strength near the nearby supply area, while sellers keep control below the upper resistance band. This leaves the daily outlook negative unless the pair can reclaim the balance zone above the current price.
For the full session, the pair may stay under pressure while trading beneath the pivot. A stronger recovery is possible only if buyers force a move back through the first resistance block; otherwise, the market may continue probing deeper support levels during the day.
Current price: 1.34602
Pivot: 1.34680
Nearest support levels: S1: 1.34480, S2: 1.34320, S3: 1.34100
Nearest resistance levels: R1: 1.34740, R2: 1.34960, R3: 1.35220
Note:
Above Pivot: If the pair regains 1.34680 and holds above it, buyers may attempt a corrective rebound toward 1.34740 and 1.34960. If recovery momentum accelerates, the next daily target may come at 1.35220.
Below Pivot: If the pair remains below 1.34680, bearish pressure may persist toward 1.34480 and 1.34320. A wider intraday decline may then expose 1.34100.
