Recent data shows a fresh wave of selling pressure on the GBP/USD exchange rate, with the current support level sitting at 1.2883, which coincides with the 20-day moving average and the previous week’s low. A break below this support could open the door for a deeper correction following the recent multi-month high of 1.3014, which was met with resistance.

Traders should note the next critical support level positioned at 1.2798, representing both the 200-day moving average and a Fibonacci retracement level of the prior rally from 1.2099 to 1.3014.

Monitoring these indicators will be crucial for identifying potential market direction in the coming sessions. As uncertainty looms, participants should remain cautious and prepared for swift movements based on upcoming economic insights.