GBP/USD falls below 1.3200

GBP/USD extended the decline and fell below the 1.32 mark at the beginning of the New York session, as the pound continues to suffer on the back of disappointing UK inflation figures, while the greenback has managed to shrug-off dovish comments from Fed’s Brainard.

GBP/USD has lost around 150 pips throughout the day and recently bottomed out at a 12-day low of 1.3189 in recent dealings. Cable was last at 1.3202, recording a 0.96% loss on the day.

GBP/USD technical levels

As for technical levels, immediate supports are seen at 1.3150 (50-day SMA), 1.3126 (Sep 1 low) and 1.3078 (Aug 30 low). On the other hand, resistances could be found at 1.3346 (Sep 12 high), 1.3374 (Sep 8 high) and 1.3400 (psychological level).