Daily Pivots: (S1)12,282; (S2)12,223; (S3)12,171; (P)12,334; (R1)12,393; (R2)12,445; (R3)12,504 Intraday bias in GBP/USD remains neutral as it’s still bounded in range of 12,165/12,647. On the downside, a break of 12,165 will indicate completion of a rebound from 11,411. Intraday bias will be turned back to the downside for retesting 11,411 low. On the upside, a break of 12,647 will extend the rebound instead. However today we see the clear break of downtrend formed from 12,650 level with a very strong test of (R1) level, which indicates very possible test (R2) and MA50 level around 12,445
