The British Pound started a major decline from the 1.3620 resistance against the US Dollar. The GBP/USD pair declined and traded below the 1.3500 level.
It traded below the 1.3400 level and the 50 hourly simple moving average. The pair traded as low as 1.3272 and it at risk of more downsides. An immediate resistance is near the 1.3320 level.
The next key resistance is near the 1.3380 level and the 50 hourly simple moving average. Any more gains might push the pair towards the 1.3440 level, where the pair might face resistance. The next major hurdle could be 1.3500 on FXOpen.
An initial support on the downside is near the 1.3300 level. The main support is forming near the 1.3280 level. A break below the 1.3280 support could even push the pair below the 1.3250 support.
