GBP/USD bounces-off 1.3200, but capped by 1.3235

A fresh selling-wave that caught the GBP/USD pair lost steam just ahead of 1.32 handle, as the bulls were rescued by a minor-recovery attempt seen in oil and stocks.

GBP/USD awaits CBI realized sales

Currently, GBP/USD recovers most losses and now trades almost unchanged at 1.3225, trying hard to extend beyond hourly 20-SMA now located at 1.3232. The cable bounces higher, although faces stiff resistance around 1.3230 levels as markets now await fresh fundamental triggers for next direction.

Next on the cards is the release of UK CBI realised sales data ahead of the US durable goods report. While the major to waver between gains and losses amid cautious pre-Fed trading.  The Jackson Hole Symposium starts today and investors will closely monitor every piece of information coming from there, so volatility might be elevated.

GBP/USD Levels to consider                           

The pair has an immediate resistance at 1.3286 (daily R1), above which 1.3300 (round figure) would be tested. On the flip side, support is seen at 1.3200 (round number) below that at 1.3171 (5-DMA).