Sterling has slipped below $1.35 as voters headed to the polls for the highly anticipated UK by-election in Greater Manchester.
A Labor government loss could deepen concerns about political stability in the UK as it is their seat to lose.
Prime Minister Keir Starmer’s leadership is already under pressure due to the Peter Mandelson-Epstein controversy.
Technical Analysis: GBP/USD is currently testing key support near the $1.3450 level, a critical point for the pair.
The next major support lies at $1.3400, with resistance around $1.3540. A break below $1.3450 could trigger further declines, potentially moving towards $1.3400.
On the upside, if the pair manages to reclaim the $1.3500 level, we could see a push toward $1.3575.
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