GBP/USD pair is trading near $1.3133

The GBP/USD pair is trading near $1.3133, extending its decline after breaking below key support at $1.3163. The bearish momentum remains intact as price holds below both the 50-EMA ($1.3273) and 200-EMA ($1.3377), confirming sustained downside pressure.

The RSI at 30 signals oversold conditions, hinting at a potential short-term rebound, though sentiment stays weak amid broad dollar strength. Immediate support lies near $1.3080 and $1.3023, while resistance is capped at $1.3163 and $1.3246.

A decisive close below $1.3080 would expose $1.2965, whereas recovery above $1.3246 could signal a short-covering rally. Overall, bears remain in control heading into early November.