GBP/USD touches a low of 1.3143 on the session
The pair has been flirting with a move to the downside as sellers continue to test the 100-hour MA (red line), but buyers have been defending the key level with support nearby at the 38.2 retracement level @ 1.3151.
A firm break below those two levels will open up further near-term downside, as the bias turns bearish. A move towards 1.3100-10 will be on the cards next should that be the case.
Right now, the dollar is extending its gains across the board and that is giving fuel for sellers to continue with the pressure. The aussie, kiwi, and swissie are all also at session lows against the greenback.
Risk aversion is likely to continue in US trading unless some major headline crosses to reverse the sentiment (I can't think of any to be honest but there's always a Trump-associated risk). At this point, it looks like it's another question of "can the dollar break the resistance above the 95.50 handle?" once again - as buyers look to break above the 100 and 200-hour moving averages in the dollar index.
And that will be something dollar pairs need to watch out for in the near-term.