The pair traded within a range after the previous decline, then rebounded from the 1.3410–1.3420 area and moved back toward the upper part of the latest consolidation. GBP/USD is recovering, but the broader H1 structure still shows resistance near the previous breakdown zone, so buyers need to hold above the Pivot to keep the daily tone constructive.
Current price: 1.34470
Pivot: 1.3438
Nearest support levels:
S1: 1.3420
S2: 1.3395
S3: 1.3370
Nearest resistance levels:
R1: 1.3460
R2: 1.3480
R3: 1.3500
Note:
Above Pivot: while GBP/USD holds above 1.3438, the pair may continue its recovery toward 1.3460. A sustained breakout above this resistance may open the way toward 1.3480 and 1.3500.
Below Pivot: a move below 1.3438 would reduce buying pressure and may return the pair toward 1.3420. A break below this support would increase downside risks toward 1.3395 and 1.3370.
