The British Pound started a downside correction from the 1.3740 zone against the US Dollar. The GBP/USD pair traded below the 1.3680 level to move into a short-term bearish zone.
There was a close below the 1.3600 level and the 50 hourly simple moving average. The pair traded as low as 1.3573 and is currently consolidating losses. On the upside, the pair is now facing resistance near the 1.3600 zone.
There is also a key bearish trend line with resistance near 1.3600 on the hourly chart. The next key resistance is near the 1.3640 level. Any more gains might push the pair towards the 1.3700 level.
An initial support on the downside is near 1.3580 on FXOpen. The main support is forming near the 1.3565 level. A break below the 1.3565 support level could even push the pair below the 1.3550 support.
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