Will GBPUSD Remain Pressured Amid Upcoming US data next week?British Pound/US DollarFX:GBPUSDDatTongFundamental approach: - The pound-dollar weakened this week amid a firmer US dollar as risk sentiment deteriorated and markets braced for delayed but imminent US inflation data during a federal shutdown. - A risk-off tone, tied to the US government shutdown, lifted the US dollar, pressuring risk-sensitive currencies and pushing the Cable lower as safe-haven demand persisted. - Meanwhile, the Bureau of Labor Statistics recalled staff to ensure the Sep CPI is published, keeping Fed policy uncertainty in play and supporting the USD into the week’s end. On the UK side, prior data signaled a flat July GDP after a rebound in Jun, tempering optimism ahead of the next monthly print. - The pound-dollar could remain pressured if US CPI and Fed communications reinforce expectations for restrictive policy, although any UK activity surprise may provide a near-term lift. Technical approach: - GBPUSD retested both EMAs before closing below, indicating a bearish momentum. The EMAs are having a dead-cross, signalling a shift in the market structure. - If the GBPUSD remains below the resistance level at 1.3400, the price may continue to move toward the support level at 1.3175. - On the contrary, closing above 1.3400 and both EMAs may prompt the GBPUSD to retest the following resistance at 1.3580. Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness