• Cable softer on the session as USD catches a bid, trimming recent gains

• 1.35 resistance holds on first test, upside momentum fading after sharp move from sub-1.33

• Price action consistent with near-term consolidation

• Initial support seen at 1.34 (200-day MA), below that 1.33 is key

• UK jobs survey - advertised wage growth cools to 3.9%, slowest since Feb 2022

• Data leans dovish at the margin, reinforcing BoE “wait-and-see” stance

• Macro backdrop remains headline-driven, geopolitical noise likely to keep FX ranges choppy

• Near-term focus shifts squarely to Friday’s U.S. payrolls as next directional catalyst
GBPUSD daily chart


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