GBPUSD Retains Downside Pressure Below Key Resistance Zone

GBPUSD: The Unless the pair breaks and holds above the 1.3480 zone, risk will continue to point lower on more weakness medium term. On the downside, support lies at the 1.3200 level where a break will turn attention to the 1.3150 level. Further down, support lies at the 1.3100 level. Below here will set the stage for more weakness towards the 1.3050 level. Conversely, resistance stands at the 1.3400 levels with a turn above here allowing more strength to build up towards the 1.3450 level. Further out, resistance resides at the 1.3500 level followed by the 1.3550 level. On the whole, GBPUSD threatens further downside pressure below its key resistance zone.