On the downside, support can be found at $1.2926, followed by stronger levels at $1.2908. The 50-day EMA aligns with the pivot point at $1.2956, while the 200-day EMA rests at $1.3012, signaling mixed sentiment.

If GBP/USD breaks above $1.2956, it could pave the way for a more bullish trend, while staying below could keep the bearish tone intact.

The Euro (EUR) softened following weaker-than-expected PMI results, with French Manufacturing at 44.5 and German Manufacturing at 42.6, both below forecasts.

French and German Services PMIs also underperformed, adding pressure on the Euro. The broader Eurozone Manufacturing PMI registered at 45.9, missing expectations.

Traders now focus on the upcoming German Buba Monthly Report for further insights into economic conditions and potential policy adjustments amidst persistent economic challenges.

The EUR/USD pair is trading at $1.07836, showing slight upward movement, though it remains below the key pivot point at $1.07932. Immediate resistance lies at $1.08114, with further resistance levels at $1.08285 and $1.08480.