GBP/USD Technical Analysis: bearish pressure to aggravate below 1.3300 mark

   •  After a modest rebound to the 1.3340-45 region, the pair is slowly drifting back towards the post-UK CPI swing lows.
   •  Weakness below the 1.3300 handle will confirm a short-term descending trend-channel breakdown and pave the way for an extension of the depreciating slide.
   •  With technical indicators holding in negative territory, acceptance below short-term moving averages further reinforces the bearish outlook.

GBP/USD 1-hourly chart

Current Price: 1.3336
Daily High: 1.3375
Daily Low: 1.3308
Trend: Bearish 

R1: 1.3371 (Tuesday's closing level)
R2: 1.3399 (5-day SMA)
R3: 1.3464 (R2 daily pivot-point)

S1: 1.3308 (daily swing low)
S2: 1.3251 (S3 daily pivot-point)
S3: 1.3295 (4 June swing low)

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.