• Cable tracking for its worst week in a month, off around 0.9%

• UK PMIs beat expectations, but price action muted with limited follow-through

• BoE survey further leans against need to tighten policy

• Modest support emerging around 1.3300, though rebounds remain shallow and unconvincing

• Elevated oil backdrop continues to weigh on GBP via terms-of-trade channel

• Break below 1.3300 opens a move toward 1.3250 as next downside target

• Resistance remains firm into 1.3390–1.3400 zone, capping topside attempts
GBPUSD daily chart


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