• Cable marginally softer this morning, price action remains choppy with no clear signs of letting up

• Spot caught a bid Thursday on U.S.-Iran ceasefire extension headlines, but move lacked follow-through

• No conviction on either side, which leaves the pair in a sideways chop

• 200DMA (1.3423) acting as a magnet for now, though bias tilts lower from here

• Recent soft UK data has trimmed BoE hike pricing

• UK politics also a slow-burn risk - June 18 by-election worth keeping on the radar as we near event

• Support: 1.3350-70. Resistance: 1.3485-1.3500
GBPUSD daily chart


Justin McQueen is a Reuters market analyst. (The views expressed are his own). ((Email: ))