The British Pound is facing some technical challenges against the US Dollar and Japanese Yen. The GBP/USD and GBP/JPY pairs are being closely watched by traders in the forex market.
In terms of technical analysis, the GBP/USD pair is currently trading near a key support level at 1.3800. If this level is broken, we could see a further decline towards the next support level at 1.3700. On the upside, resistance is seen at 1.3900 and 1.4000.
As for the GBP/JPY pair, it is also testing a key support level at 150.00. A break below this level could lead to a decline towards 148.00. On the other hand, resistance is seen at 152.00 and 154.00.
Overall, the technical outlook for the British Pound against the US Dollar and Japanese Yen remains uncertain. Traders are advised to closely monitor key support and resistance levels to make informed trading decisions.