GBP/USD Slumps to Fresh Lows Amid Technical Resistance

GBP/USD has fallen to fresh intra-week lows after failing to break above the 1.3660 resistance level, signaling persistent selling pressure in the British pound against the US dollar.

The 1.3660 level has acted as a strong resistance zone for the pair, with sellers repeatedly stepping in to cap upside attempts.

Market participants' reluctance to push the pound higher is likely due to technical resistance and fundamental headwinds, including diverging monetary policy expectations between the Bank of England and the Federal Reserve.

The pound's struggle reflects broader market dynamics, with global risk sentiment and economic data releases playing a significant role in its decline.