GBP/USD Stuck Below Key Level as Dollar Firms Ahead of UK GDP

The GBP/USD pair is under pressure as the US dollar remains firm, with traders waiting for the UK's GDP release to determine the next move. The pound is hovering below the psychological 1.3500 mark, a level that could signal bullish momentum if broken above.

The greenback has found support from expectations of higher interest rates from the Federal Reserve, boosting its appeal and putting pressure on the pound. Traders are closely watching the UK's GDP figures, expected to show signs of growth or contraction in the British economy.

A strong GDP reading could provide support for the pound, while a weak print might exacerbate losses. The data is crucial for traders as it may set the tone for GBP/USD in the near term.