GBPUSD ONCE AGAIN TESTING KEY SUPPORT

The British pound has fallen back towards the 1.3205 support level against the US dollar, following a surge-higher in the value of the US dollar index. The GBPUSD pair risks further extended downside below the 1.3205 level as it marks a key technical breakout. Sellers will try to target the 1.3150 level, while buyers will aim to stabilize price back above the 1.3255 resistance level.

• The GBPUSD pair is only bearish while trading below the 1.3200 level, key support is found at the 1.3150 and 1.3101 levels.

• If the GBPUSD pair trades above the 1.3205 level for a sustained period, buyers may test towards the 1.3255 and 1.3300 levels.