The pair traded within a broad corrective decline and starts the day in the lower half of the recent range. GBP/USD lost the strong upside structure that carried it to the 1.3600+ area and has since shifted into a descending intraday sequence. The market is now testing whether the 1.3520 region can act as a temporary floor, but so far the rebound attempts remain shallow and inconsistent. That keeps the short-term tone defensive.
For the full day, the pair needs to reclaim the balance area before buyers can talk about a real recovery scenario. As long as price stays below the pivot, the structure still favors pressure on lower supports, even if the decline develops through pauses and small rebounds. A move above the pivot would improve the tone and allow a wider retracement, but below it the daily picture remains bearish-corrective rather than neutral.
Current price: 1.35231
Pivot: 1.35320
Nearest support levels: S1: 1.35120, S2: 1.34900, S3: 1.34680
Nearest resistance levels: R1: 1.35480, R2: 1.35720, R3: 1.36020
Note:
Above Pivot: If the pair recovers above 1.35320, buyers may attempt a broader correction toward 1.35480 and 1.35720. If bullish pressure extends during the day, the next upside target may come at 1.36020.
Below Pivot: If the pair remains below 1.35320, sellers may continue to pressure the market toward 1.35120 and 1.34900. A deeper daily decline would then expose 1.34680.
