GBPUSD: Can Sterling Extend Its Recovery Above 1.3200?GBP/USDOANDA:GBPUSDDomicChainaGBPUSD is no longer falling in a straight line. After sliding sharply toward the 1.3150 area, the pair has started to build a more structured recovery and is now trading around 1.3236. The encouraging sign is that buyers have pushed price back above the EMA34 near 1.3228, although the EMA89 around 1.3273 continues to cap the upside. The 1.3220–1.3200 zone is now the key area to watch. If price pulls back into this support but holds firm, prints bullish rejection candles, or shows fading selling momentum, it would suggest buyers are quietly absorbing supply. In that case, the current rebound could evolve into a stronger technical recovery rather than just a temporary bounce. The fundamental backdrop has also become more balanced. Reuters reported that Sterling ended its three-session winning streak against the US Dollar, easing back toward 1.3233, while the UK economy maintained 0.6% GDP growth in the first quarter. Markets are now waiting for fresh guidance from officials at the Bank of England, the ECB, and the Federal Reserve. On the data front, Forex Factory showed that the UK's Nationwide HPI m/m rose 0.1%, improving from the previous -0.6%. While not strong enough to trigger a major trend reversal, the release could help support Sterling if the US Dollar fails to strengthen further.