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Brown Brothers Harriman analyst Elias Haddad highlights that GBP/USD is currently consolidating near 1.3440 but warns of growing downside risks. The UK's recent PMI data slump signals weakening economic momentum, which could pressure the Pound. Additionally, Haddad notes that a potential Labour government's leftward policy shift and downward repricing of UK swaps may further undermine GBP strength. For traders, this creates a bearish bias as the Pound faces structural headwinds from both economic data and political uncertainty. The key focus will be on UK economic releases and Labour's policy roadmap, which could amplify GBP volatility. Market participants should monitor GBP/USD support levels and central bank positioning for potential short-term trading opportunities.
