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2025-07-29 18:38:18
[Pound's Lifeline: 1.3333 Falls, 1.32 Possibly a New Low!] ⑴ On the evening of July 29th, the GBP/USD exchange rate broke through the 1.34 mark due to a pullback in the US dollar. ⑵ In the short term, support is located near the 100-day moving average at 1.3333, which represents the current downside limit. ⑶ Although the British pound is considered the preferred trading currency for further US dollar strength, its positioning is much clearer than that of the euro. ⑷ Previously, the squeeze on long EUR/GBP positions provided some cushion for the British pound. ⑸ However, if the GBP/USD price closes below the 100-day moving average at 1.3333, it would signal the opening of a downward trend towards 1.32. ⑹ Traders should closely monitor this key technical level, as its failure could trigger a new round of decline in the British pound, significantly impacting market sentiment.
