Watching GBP/USD news today and the pound's taking a hit. We're sitting around 1.3200 after Trump ramped up rhetoric on Iran - guy's basically saying if negotiations fail, the US goes after oil infrastructure. That's got markets spooked. Oil's up, stocks are down, and the dollar's benefiting from the risk-off mood.

Interesting thing is we bounced a bit when Iran news dropped about the Strait of Hormuz protocol with Oman. Shows how sensitive this pair is to geopolitical noise right now.

On the employment front, mixed signals. Jobless claims came in better than expected at 202k, but companies are cutting jobs faster - over 60k cuts in March alone. That's a 24% jump year-over-year. Markets are watching the NFP number closely, especially after February's brutal -92k print.

Technically, GBP's struggling. We broke below key support at 1.3035 and the moving average cluster around 1.3480 is acting as resistance. If we can't hold 1.3220 support, we could see a drop toward 1.2900. On the flip side, a daily close above 1.3480 would ease the bearish pressure.

Fed staying hawkish, dollar staying strong - that's the headwind for the pound right now. Latest GBP news keeps pointing to more downside unless sentiment shifts.