GBP/USD Weakens as Global Markets Navigate Tech Scrutiny, PBOC Policy

GBP/USD has experienced downward pressure amid a complex global market environment characterized by increased regulatory scrutiny on major tech companies and steady monetary policy from the People's Bank of China. The pound's weakness against the dollar reflects broader risk-off sentiment as EU regulatory actions against technology giants weigh on equity markets and investor confidence. The PBOC's decision to maintain current policy settings has provided stability in Asian markets but limited positive spillover effects for risk-sensitive currencies like sterling. Technical indicators suggest GBP/USD is testing key support levels near 1.3050, with immediate resistance at 1.3120. The pair's movement reflects both dollar strength from safe-haven flows and pound-specific concerns about UK economic momentum. Traders are monitoring whether the current dip represents a buying opportunity or signals deeper correction ahead, particularly as global regulatory and policy uncertainties persist.