• GBP/USD pulls back from 1.3400 during NY trade. Range 1.3368-1.3399

• USD holds onto the post-Fed constructive tone, underpinning the pullback

• That said, cable does still appear to be carving a higher-low, which could offer a short-term reprieve

• Rebound setup would be invalidated on a break below the late-July low at 1.3274

• A decisive break lower opens the path toward the 2026 low near 1.3140

• Overall, ranges remain tight but with a slight bearish lean
GBPUSD hourly chart

Justin McQueen is a Reuters market analyst. (The views expressed are his own). ((Email: ))