The pivot point is used as support and resistance at the same time; it is the first level that we observe. For this week the pivot points (weekly and monthly) for GBP/USD are: 1.5516 weekly; 1.5582 monthly.
The British pound is located bellow the pivot weekly and bellow the Moving Average of 200 periods (blue).
Therefore, the pivot points indicate the following:
1) if the price in September is broken by the pivot point in an upward motion, the market is bullish and, conversely, if the pivot point is broken in a downward motion, the market is bearish.
2) they can provide points of market entry and exit or can be removed which is useful for trading strategy. For example, a sell limit order can be placed on a level support for open if this support is broken and the stop loss can be placed for this order in one of the Resistances.

Signal For 23 - 27 July
Buy long 1.5480 with Take Profit at 1.5700 and with the Stop Loss at 1.5430 or Sell Short 1.5720 with Take Profit at 1.5500.

  ____WEEKLY_____
Weekly - R3 = 1.5952
Weekly - R2 = 1.5844
Weekly - R1 = 1.5732
Weekly Pivot = 1.5624
Weekly - S1 = 1.5512
Weekly - S2 = 1.5404
Weekly - S3 = 1.5292

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_____MONTHLY____
Monthly - R3 = 1.6408
Monthly - R2 = 1.6092
Monthly - R1 = 1.5998
Monthly Pivot = 1.5582
Monthly - S1 = 1.5388
Monthly - S2 = 1.5072
Monthly - S3 = 1.4878