GBP/USD is printing back in the green at 1.32537 after climbing from a low of 1.3231. From a technical perspective, the emergence of fresh selling at higher levels validates last week's bearish break through a short-term descending channel
=> Hence, a subsequent slide back towards testing sub-1.3240 levels or 1.3200, A breakout of the triangle with some further selling should pave the way for a fall towards the next relevant support near 1.3130 region on the way to the 1.3100 mark.
=> On the flip side, the 1.3290-1.3300 region might continue to act as immediate strong resistance, if broken the price will fly outside the triangle zone and accelerate the recovery towards the 1.3350-1.3380 supply zone.
=> Hence, a subsequent slide back towards testing sub-1.3240 levels or 1.3200, A breakout of the triangle with some further selling should pave the way for a fall towards the next relevant support near 1.3130 region on the way to the 1.3100 mark.
=> On the flip side, the 1.3290-1.3300 region might continue to act as immediate strong resistance, if broken the price will fly outside the triangle zone and accelerate the recovery towards the 1.3350-1.3380 supply zone.