GBP/USD extended its downside movement from 1.3337 to as low as 1.3087, breaking below a support level at 1.3121. Further decline towards the major support trend line on the daily chart is possible in the coming days.

Near term resistance is at 1.3228, and only an upside break of this level could take price back towards 1.3337 resistance. Above this level would aim towards 1.3455.