The GBP/USD has continued to decline, falling below the 1.3300 level, which paves the way for potential further losses. Sellers are now targeting the peak of 1.3266 from August 27. In the short term, the momentum has turned bearish, as indicated by the Relative Strength Index (RSI) moving towards its neutral line, although it remains in bullish territory.
If the GBP/USD manages to surpass the August 27 high, the next support level would be at 1.3200. Should the weakness persist, the next target would be the daily low of 1.3145 from September 17, followed by the 1.3100 level.
On the other hand, for a bullish trend to continue, the GBP/USD needs to rise above 1.3300 and break through the upper trendline of the ascending channel, which is located around the 1.3380-1.3390 range.
