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The GBP/USD pair has entered a bearish consolidation phase after repeatedly testing the critical 1.3450 support level. Traders are closely watching if the Pound will defend this key level ahead of the upcoming US non-farm payrolls data, which could influence USD strength. A breakdown below 1.3450 might trigger further downside, while a rebound could signal short-term bullish momentum. The US jobs report, a major driver of Fed policy expectations, adds volatility to the pair. This dynamic is crucial for forex traders assessing risk-reward ratios in the G10 space.
