GBP/USD Technical Analysis: Bounces off immediate supportline despite the failure to surpass 1.3200 resistance

Failure to cross the 1.3200 mark dragged the GBP/USD pair towards testing a week-long ascending support-line during early Asian sessions on Friday.

The pair seems taking a U-turn from an upward sloping trend-line stretched since March 29, towards 1.3120 ahead of confronting the 1.3200 round-figure that now includes a descending resistance-line ranging from March 13.

Should the pair manage to cross 1.3200 mark, 1.3270 and 1.3330 are likely following numbers that buyers can aim for ahead of looking at March highs near 1.3380.

On the downside break of 1.3060 support, the quote can slip to 1.3015 and then to 1.3000.

However, 1.2970/60 horizontal area could restrict further declines.

Given the sellers’ rule on price momentum under 1.2960, 1.2890 and 1.2830 could well please the bears.

GBP/USD 4-Hour chart

Trend: Mild pullback expected