GBP/USD continues to side trading below it trend line. The intraday bias remains neutral for the moment. Price is facing minor support and the down move is still limited at 1.6209 level. Key support zone of uptrend is 1.6200/1.6209 where is a 50% fibonacci retracement level. Break below this support zone will signals for deeper correction. After breaking this zone price is targeting towards 1.6101 and the bias will be flip back to bearish. Recovery of uptrend move will be present if price manage to test and trade above its intraday trend line. If we have positive break GBP/USD is facing first resistance at 1.6455.
Daily Pivots: Pivot Point – 1.6271, 1st Support – 1.6209, 1st Resistance – 1.6310