The British pound has continued to lose ground against the US dollar during the European trading session, with the pair hitting 1.3230. The correction is gathering pace in the GBPUSD pair is gathering pace and could reach the 1.3200 level before turning around. Overall, a sustained break under the 1.3200 level could provoke a much-deeper technical correction towards the 1.3155 level.
If the GBPUSD pair trades below the 1.3375 level, key support is found at the 1.3200 and 1.3155 levels.
The GBPUSD pair is only bullish while trading above the 1.3375 level, further upside towards the 1.3430 and 1.3500 levels then seems possible.
