Daily pivots: (S1) 1.2185; (P) 1.2262; (R1) 1.2314; more….
Intraday bias in GBP / USD remains downside at this time. With a double peak pattern completed (1.2647, 1.2645), the corrective rebound from 1.1409 should be completed. Deeper falls could be seen to re-test 1.1409 low. However, violations of 1.2467 resistance will return bias to the upside for 1.2647 resistance instead.
In the bigger picture, rebound from 1.1409 is strong, but there is no indication of trend reversal yet. The down trend from 2.1161 (2007 high) still had to resume sooner or later. The next medium-term target will be 61.8% forecast from 1.7190 to 1.1946 from 1.3514 at 1.0273. In any case, the outlook will remain bearish as long as 1.3514 resistance holds, in case of strong rebound.