**British Pound Faces Downside Pressure as Technical Levels Break**
The British pound has breached key support levels against the US dollar, dropping to 1.3507 and building downside momentum, according to UOB currency strategists Quek Ser Leang and Lee Sue Ann. The pair broke below its expected intraday trading range, signaling increased bearish pressure on sterling.
UOB analysts now maintain a bearish intraday bias for GBP/USD, with the currency pair expected to test 1.3500 in the immediate term. The major support level to watch sits at 1.3480, which could come under pressure if selling continues. The bearish outlook remains valid as long as the pair trades below the 1.3545 threshold, which now acts as resistance.
Traders holding long positions in sterling should monitor these technical levels closely as downside momentum appears to be gathering pace. Any sustained move below 1.3480 could trigger additional stop losses and accelerate the decline.
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FXnCO Insight
** Sterling traders should watch for a break below 1.3480 to position for further downside, while keeping stops tight above 1.3545 resistance.
Source: FXStreet