GBPUSD failed to breakout of the support-turned-resistance trend line on the 4-hour chart and extended its downside movement from 1.3337 to as low as 1.3131. Further decline could be expected after a minor consolidation and a breakdown below 1.3121 support could trigger another fall towards the major support trend line on the daily chart. Near term resistance is at 1.3230, only break above this level could take price back towards 1.3337, above this level would aim next resistance level at 1.3455.
