The GBP/USD currency pair has recently made a notable move, breaking below the crucial support level of 1.3312. This decline has taken the pair down to as low as 1.3237, indicating that the upward trend that began at 1.3001 may have concluded at the recent high of 1.3434.
As we look ahead, there’s potential for further declines in the coming days, with the next target set around the 1.3170 mark. Traders should keep an eye on this level, as it could serve as a significant point of interest.
On the flip side, if the pair manages to rally, initial resistance is found at 1.3310. A breakout above this level could pave the way for additional gains, potentially reaching the 1.3370 area. Should momentum continue beyond that, the previous high of 1.3434 could come back into play.