**BREAKING: GBP/USD Holds Ground Above 1.3500 Despite Second Day of Losses**
The GBP/USD currency pair is trading under pressure for the second consecutive session Monday during Asian hours, hovering near the 1.3500 psychological level as the US dollar shows modest strength. Despite the negative bias, the pair is demonstrating resilience by maintaining prices above Friday’s swing low, suggesting bears lack conviction to push prices significantly lower.
The tepid downward movement reflects trader uncertainty rather than decisive selling pressure. The pair’s ability to defend support near 1.3500 indicates underlying buying interest may be limiting downside potential in the near term. USD strength remains modest, preventing aggressive GBP selling from taking hold.
Technical traders should note the hesitancy around key support levels, which could signal either consolidation or a potential reversal if the dollar’s uptick fails to gain momentum.
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FXnCO Insight
** Bearish GBP/USD traders should exercise caution at current levels, as the failure to break Friday’s lows suggests limited downside conviction and potential for short-term support to hold near 1.3500.
Source: FXStreet