The British pound sterling gave back some of the gains on Friday, to close on a bearish note. This move saw price action falling back to the familiar support of 1.3300.
This also resulted in the rising trend line being breached.
If we see a downside continuation, then the break down below 1.3300 could put GBPUSD back into its old consolidation range.
Price action on the daily chart shows a bearish move, which could confirm the continuation to the downside.
However, the declines could stall within the 1.3300 and the 1.3122 levels in the near term.
