GBP/USD Technical Watch: Sterling Tests Support Amid Dollar Strength

While EUR/USD holds a minor uptrend above its 200-day moving average ahead of the ECB decision, GBP/USD's own technical posture looks comparatively fragile as U.S. yields climb. Sterling has struggled to replicate the euro's resilience, with dollar strength from the Treasury selloff capping upside attempts on cable.

Traders are watching whether GBP/USD can hold above near-term support structures as risk sentiment stays choppy. A break below key support would open the door to deeper downside, while a defense of current levels could set up a relief rally if U.S. yields cool.

The broader takeaway: GBP/USD's technical fate is currently hostage to U.S. rate direction, with the ECB and Fed narratives both feeding into cross-dollar flows that ripple through sterling.