The pair traded within a range after a strong rebound from the lower boundary of the recent structure returned the market to the middle-to-upper part of the daily intraday range. On H1, GBP/USD has improved noticeably from the recent lows, but the latest pullback from the local highs shows that sellers are still active into strength and that the pair has not yet completed a full bullish reset.
For the full trading day, the balance is slightly constructive while price holds above the rebound base, but a clean continuation higher still requires a break through the nearby resistance band. If that break does not happen, the pair may spend most of the session in a broad corrective range rather than in a clean directional move.
Current price: 1.35286
Pivot: 1.35180
Nearest support levels: S1: 1.34980, S2: 1.34800, S3: 1.34580
Nearest resistance levels: R1: 1.35420, R2: 1.35620, R3: 1.35880
Note:
Above Pivot: If the pair holds above 1.35180, buyers may attempt a move toward 1.35420 and 1.35620. If the rebound broadens through the day, the next wider upside target may come at 1.35880.
Below Pivot: If the pair slips back below 1.35180, the structure may weaken toward 1.34980 and 1.34800. A deeper intraday pullback may then expose 1.34580.
