GBP/USD Technical Analysis: Weakens below mid-1.3200s, bears targeting 100-hour SMA

   •  The pair faced rejection near the 1.3300 handle at the start of a new trading week and tumbled to fresh session lows, below mid-1.3200s in the last hour.

   •  The pair's inability to capitalize on Friday's goodish up-move and a subsequent sharp retracement slide clearly point to persistent selling bias at higher levels.

   •  An intraday dip below 50-hour SMA might be seen as a key trigger for bearish traders amid a flurry of incoming negative Brexit-related headlines.

   •  Technical indicators on the 1-hourly chart have been gaining negative momentum and support prospects for a further slide towards challenging 100-hour SMA.

   •  However, oscillators on 4-hourly/daily charts are still holding in the bullish territory, though have started losing traction, and thus, warrant some caution. 

GBP/USD 1-hourly chart