**BREAKING: British Pound Breaches Key 1.35 Level Against Dollar**
The British pound has broken below the critical 1.35 threshold against the US dollar, shifting technical focus to further downside potential according to Scotiabank strategists Shaun Osborne and Eric Theoret. The pair currently trades soft but remains mid-range among G10 currencies as markets await direction from upcoming Bank of England communications.
With limited domestic economic data releases on the calendar, traders are positioning ahead of Governor Andrew Bailey’s scheduled speech, which could provide fresh guidance on monetary policy and the pound’s near-term trajectory. The breach of 1.35 represents a significant technical breakdown that may trigger additional selling pressure if the level fails to hold as resistance.
The sterling’s vulnerability comes despite maintaining relative stability compared to other major currencies, suggesting broader dollar strength rather than UK-specific weakness is driving the move.
**
FXnCO Insight
** Traders should monitor 1.35 as a critical resistance level and position defensively until Governor Bailey’s speech clarifies BoE policy direction.
Source: FXStreet