GBP/USD Tumbles Below 1.3500 Amid Bearish Trend Line Concerns

The GBP/USD pair has extended its losses and dipped below the 1.3500 pivot level, sparking concerns about a potential bearish trend line forming on the 4-hour chart.

The British Pound failed to stay above 1.3540 against the US Dollar, leading to a decline below 1.3520 and 1.3500. On the 4-hour chart, the pair settled well below 1.3500, the 100 simple moving average (red), and the 200 simple moving average (green).

If the bears remain in action, the pair might even decline toward 1.3350, with the first major support near 1.3320. However, a close above 1.3535 could start another steady increase, with bulls aiming for a move to 1.3580.