GBP/USD Stalls Near 1.35 — Sterling Momentum Fading After Rally

GBP/USD is consolidating near the 1.3500 psychological level as sterling appears to be losing upside momentum following its recent multi-day advance. The pair's inability to sustain a decisive break above 1.35 suggests sellers are emerging at elevated levels, potentially setting up a period of range-bound trading or a corrective pullback. The consolidation phase comes after an extended rally that may have stretched technical indicators into overbought territory. Immediate resistance remains at 1.3500-1.3520, while near-term support is located around 1.3440-1.3450. A failure to reclaim the 1.35 handle on a closing basis could signal a broader topping pattern and invite deeper retracements toward 1.3400. Fundamental drivers remain mixed, with UK economic resilience providing a floor for sterling, but uncertainty around the Bank of England's rate path limiting further upside. Traders should watch for a definitive break in either direction, with volume confirmation being key. Upcoming UK PMI data and US economic releases will likely determine whether the pair resumes its uptrend or enters a corrective phase.