• GBP/USD marginally firmer in a choppy session. Range 1.3225-80

• Spot supported by cross-related selling in EUR/GBP, around down 0.3% on the session

• Little evidence Cable is breaking out of the prevailing downtrend

• Macro backdrop unchanged, softer risk tone and elevated energy costs still weigh on sterling

• Key support situated at 1.3200, test remains likely

• A break here would expose the 1.3140 YTD low
gbpusd hourly chart

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