The British pound sterling lost the 1.3300 level of support on Thursday. Price action remains biased to the downside.
However, the declines might find support off the dynamic resistance from the rising trend line.
To the upside, we could see some consolidation taking place near the 1.3300 level once again.
However, further gains can come only on a strong close above 1.3300 initially, followed by a close above the previous highs.
This could mean that GBPUSD might remain range-bound, back within the familiar price channel of 1.3300 and 1.3122.
