// COMPARE

Cable closed at 1.3445 (+0.21%), a modest grind higher tracking broad dollar softness. Deutsche Bank's EUR/GBP rally call dampened sterling enthusiasm; GBP underperformed EUR on the session.

Sterling lacks a domestic catalyst this week, so it's purely a dollar funding play. BoE pricing already discounts cuts; without an inflation shock, GBP is range-bound between dollar sentiment and EUR cross-flow.

UK retail sales data and any BoE speaker hints on August cut timing. Resistance at 1.3480; support 1.3400. EUR/GBP move above 0.8680 would cap GBP/USD regardless of dollar direction.

Meta closed unchanged at $635.29 as Instagram/Facebook/WhatsApp subscription chatter went sideways. Anthropic $1T valuation headlines redirected AI-capex attention away from in-house Meta spend.

META is in a holding pattern — fundamentals are fine, but the marginal AI capex narrative is rotating to pure-plays (Anthropic, Micron) over hyperscalers. Subscription monetization story is too early to price.

Any concrete subscription pricing detail; Reality Labs Q2 read-through. $640 caps; support $625. PCE Friday matters less for META than for rate-sensitive peers.