The UK data is disappointing, and the British pound/US dollar setup is bearish.

The pound/dollar fell by 0.05%, closing 0.65% lower than the previous day, due to weak GDP; the dollar rose by 0.25%. According to a survey by KPMG/REC, the UK labor market cooled rapidly in June, while fluctuations related to US tariffs continued, triggering global uncertainty and undermining confidence. Technical charts show that the 5-day, 10-day, and 21-day moving averages are decreasing, momentum studies are down, and the 21-day Bollinger Bands have expanded. The daily chart shows a mild negative trend. Key support levels are the lower band of the 21-day Bollinger Bands at 1.3389 points and the June low of 1.3373. Resistance levels are yesterday's high of 1.3583, followed by the July 4th high of 1.3681.