The British pound has fallen below its weekly pivot point against the U.S dollar, hitting 1.3200 after worse than expected UK PPI numbers. The GBPUSD pair currently trades at the lows of the day, as Bank of England Governor Mark Governor continues to speak in front of the UK Treasury Select Committee.
The GBPUSD pair is expected to remain bearish while trading below the key 1.3233 technical level. If price-action starts to decline further below the 1.3200 level, more selling can be seen towards 1.3190 and 1.3170.
If the pair can hold the 1.3200 support level, British pound buyers may start to push the pair back up towards the 1.3220 and 1.3333 and technical resistance level.
