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.
