GBPUSD Technical Outlook: Key Support and Resistance Levels Amid Mixed Market Signals
GBPUSD has been trading near 1.3379 over the past three days, showing significant volatility driven by weak UK retail sales and dovish Federal Reserve comments. The unexpected contraction in UK retail sales and the Bank of England’s surprise rate cut to 3.75% weighed on the British pound, while the Fed’s pause stance capped further US dollar strength. This reflects market concerns over the UK’s economic recovery. Traders should watch for further data and Fed guidance as GBPUSD remains in a cautious consolidation phase, seeking clear directional cues.


