GBP/USD is trading below the 1.3450 resistance, but buying pressure is not enough to achieve a clear breakout. On the hourly chart, prices still fluctuate within a narrow range, showing signs of weakness, and have repeatedly failed to hit short-term highs.

Judging from the news, the dollar is still supported by stable U.S. economic data and expectations that the Federal Reserve will maintain a cautious stance. On the other hand, the pound is under pressure due to a slowdown in the UK economy and low inflation.

If GBP/USD continues to fall below the 1.3450 level, a drop towards 1.3393 is possible. The short-term trend remains bearish until resistance is broken.

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