Cable Tests Support as Fed-BoE Policy Gap Widens

GBP/USD is grinding lower into key intraday support as the hawkish pivot from Fed Chair Warsh reshapes rate-differential expectations. The move has flipped short-term momentum bearish, with sellers now testing levels that had previously capped downside attempts over recent sessions.

Price structure shows the pair struggling to hold prior consolidation zones, a sign that dollar buyers are stepping in with conviction. Unless sterling generates an independent catalyst, technical bias favors continuation lower while the dollar index maintains its bid tone.

Momentum indicators are turning heavier alongside the breakdown, and traders will be watching whether cable stabilizes above recent swing lows or extends the slide as the hawkish Fed narrative gets fully absorbed into pricing.