UOB analysts highlight downside risk for the pair after a sharp decline from recent highs near 1.3480.
GBP/USD fell sharply to the low 1.33 range after briefly trading above 1.3480 earlier. The move marks a reversal from recent gains, with intraday pressure now targeting the 1.3300 support level.
The pair had tested multi-week highs before the pullback, reflecting volatility in recent sessions. Analysts note that a sustained break below 1.3300 could signal further downside, though the level remains critical for near-term direction.
Market focus remains on key support zones as traders assess broader USD strength and UK economic data.