GBP/USD dips back below 1.3500, but clings to daily gains

GBP/USD dipped back below the 1.35 mark following a short-lived advance during the New York session, which was helped by a broadly weaker dollar and lower levels of anxiety surrounding the Brexit.

Even though nothing has really changed from Friday to now - regarding the Brexit -  initial turmoil eased and the pound seized the opportunity to take back some of its sharp losses.

GBP/USD rose through 1.3500 to a weekly high of 1.3532, but lost momentum and retreated a tad over the last couple of hours. At time of writing, the pair is trading at 1.3492, up 1.14% on Wednesday.

GBP/USD levels to watch

In terms of technical levels, above the .3500/30 area next resistances are seen at 1.3620 (100-hour SMA), 1.3835 (Feb 29 2016 low) and 1.3979 (intraday level Jun 24). On the other hand, supports could be found at 1.3285 (Jun 29 low), 1.3200 (psychological level/Jun 28 low) and 1.3119 (31-year low, Jun 27).