GBP/USD struggles around 1.3200

GBP/USD has stabilized around the 1.32 mark over the last hours after pulling back from daily highs, weighed by disappointing UK retail sales data.

GBP/USD retreated from the 1.3270 zone to a low of 1.3154 before meeting support, although it lacked momentum to stage a decent bounce and has spent the last hours in a slim range. At time of writing, the pair is trading at 1.3195, virtually unchanged since opening.

GBP/USD levels to watch

In terms of technical levels, supports could be faced at 1.3064 (Jul 20 low), 1.2970 (Jul 12 low), 1.2849 (Jul 11 low) and 1.2796 (31-year low, Jul 6). On the other hand, resistances line up at 1.3275 (21-day SMA), 1.3315 (Jul 18 high) and 1.3480/82 (Jul 15 high/Jun 27 high).