We have seen the pound get some backlash as the UK government backed out of the £45 billion mini-budget package, the biggest tax cut policy of the last 50 years. However, the fact that the Bank of England (BoE) announced at its previous monetary policy meeting that the economy will be in recession in the third and fourth quarters prevents the pound from entering a meaningful recovery path. From this point of view, if the GBPUSD parity, which is in the preparation of a rising wedge, leaves the 1.1260 level behind, it can carry its regression to the psychological 1.1200 support upon the completion of the formation. In possible upside attempts, 1.1400 followed by 1.1455 resistances may come to the fore. 

Support: 1.1260 – 1.1200 – 1.1160
Resistance: 1.1400 – 1.1455 – 1.1500