Analysis of the GBP/USD Pair!Great British Pound vs US DollarCFI:GBPUSDCFIThe GBP/USD pair is currently trading in a delicate balance between the strength of the US dollar and monetary policy expectations in the United Kingdom. The British pound received relative support following weaker-than-expected US economic data, particularly from the labor market, which strengthened expectations that the Federal Reserve may adopt a less restrictive monetary policy in the coming months. Meanwhile, the Bank of England continues to maintain a cautious stance, keeping interest rates unchanged amid persistent inflationary pressures, particularly within the services sector, despite emerging signs of slowing economic activity. Against this backdrop, investors are closely monitoring upcoming economic data releases and comments from officials at both central banks for clearer signals regarding the future path of interest rates, which are expected to remain the primary driver of GBP/USD in the near term. From a technical perspective, GBP/USD has rallied in recent weeks, forming a series of higher highs and confirming a shift away from the previous downtrend, supported by the recent weakness in the US dollar. The pair may experience a corrective pullback toward the demand zone highlighted in green, located between 1.32902 and 1.32789, before resuming its bullish trend, provided it maintains its positive momentum. Meanwhile, the 1.32644 level represents a key support zone that should hold to preserve the current bullish outlook. A decisive break below this level and the formation of a lower low would indicate that the four-hour uptrend may have come to an end, increasing the likelihood of a renewed bearish trend.