GBP/USD Bounces Off Key Support Amidst Shift in Rate Expectations

The British pound has been testing major support near 1.3194 as it attempts to rebound from its September downturn, according to Michael Boutros, StoneX Media Senior Market Analyst.

An upward revision to UK GDP has provided a boost to sterling, but the currency still needs to clear resistance near 1.3302-1.3314 to strengthen the case for a near-term low.

A close below 1.3194 could put the yearly range at risk as US employment and inflation data shift rate expectations.