Pound Sterling slips through 1.35 as the Labour crisis tops a UK GDP beat
Technical Analysis In the five-minute chart, GBP/USD trades at 1.3406, holding in a bearish near-term stance after slipping well below the days open at 1.3527, which now acts as overhead resistance. The elevated Stochastic RSI near 96 suggests the latest bounce is occurring in overbought territory within a broader intraday decline, hinting that upside attempts could remain capped while the pair trades under the early-session high ground. On the topside, the days open around 1.3527 is the first meaningful resistance to watch, as a recovery above this area would be needed to ease immediate downside pressure. With no nearby structural supports identified on this micro timeframe, price action remains vulnerable to further weakness as long as sellers defend the area north of 1.35. In the daily chart, GBP/USD trades at 1.3406, keeping a bearish near-term bias as spot holds beneath the 50-day exponential moving average (EMA) at 1.3481. The pair has retreated from recent highs and is now trading back under this key dynamic barrier, suggesting rallies are likely to face selling interest, while the Stochastic RSI easing towards the mid-40s hints that upside momentum is fading rather than rebuilding. On the topside, immediate resistance is located at the 50-day EMA around 1.3481, and








