The British pound remains under heavy selling pressure against the greenback, despite the US dollar index correcting marginally lower. The GBPUSD pair currently trades around the 1.3415 level, with pound sellers looking for further heavy selling below the key 1.3400 level. Sterling traders await the UK Inflation Report Hearing later today, and the next directional move in the US dollar index.
The GBPUSD pair is strongly bearish while trading below the 1.3400 level. Key support is now found at the 1.3492 and 1.3450 levels.
The GBPUSD pair is only intraday bullish above the 1.3450 level, further upside towards 1.3480 and 1.3500 is then possible.
