Day by day Pivots: (S1) 1.1993; (P) 1.2081; (R1) 1.2158; Extra…
Outlook in GBP/USD is unchanged. Intraday bias stays mildly on the draw back. Rebound from 1.1759 ought to have accomplished after hitting 55 day EMA. Deeper fall could be seen again to retest 1.1759 low. On the upside, break of 1.2292 will resume the rebound in direction of 1.2405 resistance as an alternative.
Within the greater image, fall from 1.4248 (2018 excessive) may very well be a leg contained in the sample from 1.1409 (2020 low), or resuming the long term down pattern. Deeper decline is anticipated so long as 1.2666 resistance holds. Subsequent goal is 1.1409 low. Nonetheless, agency break of 1.2666 will deliver stronger rise again to 55 week EMA (now at 1.2925).
