GBP/USD slides below 1.3200 handle ahead of US data

A fresh bout of selling pressure seems to have emerged around the British Pound, with the GBP/USD pair accelerating its downslide during the last hour of trading and has now broken below 1.3200 handle. 

In absence of any fresh fundamental trigger, the ongoing slide seems to be solely on the back of profit-booking following an up-move of nearly 250-pips from weekly low touched at the start of current trading week. 

Next on tap would be US monthly durable goods orders and weekly jobless claims. However, major trend determinant would be the Fed Chair Janet Yellen's speech at the Jackson Hole Symposium on Friday, which would throw light on the timing of next Fed rate-hike and eventually drive the greenback in the near-term.

Technical levels to watch

On a sustained trade below 1.3200 handle, the slide seems to get extended towards 1.3160-50 horizontal support before the pair eventually drops to test 1.3100-1.3080 strong support zone. Meanwhile, any recovery attempts might now confront immediate resistance near 1.3230 level above which the pair seems to resume its near-term upward trajectory, beyond 3-week high resistance near 1.3260-70 region, towards reclaiming 1.3300 round figure mark.