GBP/USD Technical Analysis: Sterling poised for further downside, channel points south

• Short-term oscillators are hanging near their midpoints as GBP buying remains unconvincing.
• The downward channel remains intact, despite temporary floor found at near-term support above 1.3200 major handle.
• 50-hour SMA remains firmly bearish, pointed for further declines.

GBP/USD chart, 1 Hour

Spot rate:               1.3255
Relative change:   (-0.42%)

Trend:                     Bearish

Support 1:             1.3230 (intraday rejection level)
Support 2:             1.3200 (major psychological handle)
Support 3:             1.3138 (S2 Daily pivot point)

Resistance 1:       1.3280 (1-Day 61.8% Fibonacci level)
Resistance 2:       1.3300 (major psychological level)
Resistance 3:       1.3340 (last swing high)