GBP/USD Holds Range Near 1.3190 With Worst Monthly Loss in a Year

GBP/USD is consolidating in a tight 1.3160-1.3220 range near 1.3190 after breaking daily trendline support at 1.3280 on June 18. Renewed UK political uncertainty following Keir Starmer’s resignation and a hawkish Fed versus neutral BoE policy divergence have kept sterling under pressure, driving the pair to its weakest monthly performance since July 2025. UOB maintains a mildly bearish view with downside risk to 1.3110 unless 1.3245 resistance is cleared, while the broader uptrend from the 2022 low remains anchored above 1.3008 despite the death cross threat on the daily chart.