The GBPUSD fell to the lowest level since December 11 reaching a low of 1.3140. The price on Friday closed at 1.3230. The move to the downside to the price into a swing area defined by lows and highs going back to July 2020 between 1.3133 and 1.31868. Between that swing area, sits the 38.2% retracement of the move up from the March 20, 2020 swing low (low was at 1.14083). That retracement level comes in at 1.3164.
The area is a bit wide but nevertheless a key bias/risk defining area going forward.
If the price can push below the lower extreme, it should open the downside for the pair.
Conversely, hold support and move back above 1.3186 and a temporary bottom may be in place, with more upside corrective probing expected.
