GBPUSD FURTHER BEARISH BELOW 1.3244
The British pound earlier staged a weak recovery against the US dollar, hitting 1.3274, with sellers now using any moves higher in sterling as a selling opportunity. The GBPUSD pair currently trades around the key 1.3244 level, after finding interim weekly support at the 1.3224 level. Sellers will now try to break the 1.3200 level, while buyers will try to hold price above the 1.3244 level.
The GBPUSD pair is strongly bearish while trading below the 1.3244 level, key technical support is now located at the 1.3224 and 1.3200 levels.
If the GBPUSD pair holds above the 1.3244 level, further upside towards the 1.3274 and 1.3294 levels remains possible.