The Pound Sterling (GBP) is struggling against its major counterparts following the release of disappointing preliminary Gross Domestic Product (GDP) figures for the UK. The economy expanded by just 0.2% in Q3, below forecasts, raising concerns about the strength of the economic recovery. As a result, GBP/USD is experiencing downward pressure, trading around 1.2200, while GBP/EUR hovers near 1.1400.
This lackluster performance is compounded by weaker labor data, further diminishing investor confidence in the UK's economic outlook. Market analysts are closely watching the technical levels, with support seen at 1.2150 for GBP/USD. If these trends continue, the Pound could face increased selling pressure, potentially dragging the exchange rate lower against both the USD and EUR in the coming sessions.
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Data Source: FX Killer Analysis Team Updated: 2025-11-13 11:40
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.