Pound Sterling Slumps Below 1.3600 Amid Dollar Strength
The British pound (GBP) has dropped to weekly lows against the US dollar (USD), trading below 1.3600 for the first time this week.
This move reflects renewed strength in the dollar, driven by resilient US economic data and hawkish signals from Federal Reserve officials.
UK economic data has been mixed, with a tight labor market but slowing wage growth and inflation above the Bank of England's 2% target.
The technical outlook for GBP/USD is bearish in the near term, with key support at 1.3550 and 1.3500.