GBPUSD Breaks the Trend Line

The British pound sterling is trading weaker on the day following the break of the rising trend line.

This could now potentially accelerate the declines lower to the 1.3122 level of support.

But the Stochastics oscillator is currently oversold which could signal a rebound in prices.

Any upside gains will be likely stalling near the 1.3300 level of resistance which has held up so far.

Overall, the GBPUSD currency pair continues to remain in a sideways range between the 1.3300 and 1.3122 levels.

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