GBP/USD Falls Below 1.3200 Amidst US Dollar Strength

The GBP/USD pair has experienced a decline, with the US Dollar gaining ground. The market’s focus remains on the upcoming release of US economic data, which could provide insights into the Federal Reserve’s monetary policy outlook.

The Pound Sterling has faced pressure from the stronger US Dollar and uncertainty regarding the Bank of England’s (BoE) monetary policy stance. The BoE is expected to maintain a cautious approach to interest rate cuts, given the recent economic data and the ongoing inflationary pressures.

GBP/USD Technical Outlook

The GBP/USD pair has broken below the 1.3200 level, indicating a potential for further declines. The 1.3043 level could act as a key support, with potential for further downside if the pair breaks below this level.

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