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fxJul 7, 2026, 1:59 PM

GBP Struggles Near 1.3400 Resistance Against USD – Scotiabank

The British Pound is slightly softer versus the US Dollar after hitting resistance around the 1.3400 level, with Scotiabank strategists citing limited fresh data and BoE factors as capping further gains.

GBPUSD

According to Scotiabank strategists Shaun Osborne and Eric Theoret, the British Pound (GBP) has edged lower against the US Dollar (USD) after encountering resistance near the 1.3400 mark. The pair is now slightly softer as currency markets await new catalysts.

The pound's upside appears limited due to a lack of fresh economic data and ongoing considerations around Bank of England (BoE) policy. The strategists note that layered resistance is keeping GBP/USD capped for now, with no clear breakout signals.

Source: FXStreet Forex News