Pound Sterling is trading cautiously against major currency pairs as the week begins, showing signs of slight selling pressure. The exchange rate reflects growing speculation regarding a potential interest rate cut by the Bank of England at its upcoming policy meeting in December. This outlook has led to weaker performance against the USD and EUR, causing traders to reassess their positions.
Currently, GBP/USD is fluctuating just below the critical support level of 1.25, while GBP/EUR hovers around 1.14. Analysts suggest that if the BoE confirms a dovish stance, the pound could face further depreciation, impacting its appeal in the forex market. The shifting sentiment reflects broader concerns over the UK’s economic outlook, prompting traders to remain vigilant as they navigate potential volatility in the coming sessions.
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Data Source: Yongxianli Analysis Team Updated: 2025-11-10 13:31
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.