GBP/USD fell toward 1.3200 during the European trading hours but staged a rebound in the second half of the day. With the dollar struggling to preserve its strength amid falling US T-bond yields, the pair is trading above 1.3250.
GBP/USD is trading below the 50-period SMA on the four-hour chart and the Relative Strength Index (RSI) indicator has declined below 50, suggesting that buyers show no interest in the pound for the time being.
On the downside, 1.3220 (20-period SMA) aligns as initial support before the 1.3200/1.3190 area (static level, psychological level). In case a four-hour candle closes below the latter, the pair could extend its slide toward 1.3160 (December 8 low).
Resistances are located at 1.3250 (50-period SMA), 1.3280 (static level) and 1.3300 (psychological level, 100-period SMA).
