GBP/USD faced headwinds on Thursday as UK tax plans and disappointing economic data weighed heavily on trader sentiment. Despite a brief bullish sentiment earlier in the session, the currency pair struggled to maintain momentum following a lackluster Gross Domestic Product (GDP) growth report for the third quarter, which fell short of expectations. This led to increased uncertainty regarding the UK economic outlook.
As the exchange rate oscillated, GBP/USD traders navigated through mixed signals, with key technical levels offering some resistance. The recent GDP figures have sparked concerns about the impact on future monetary policy, further complicating the trading landscape against a backdrop of a strengthening USD. Market participants are keenly watching developments, as any shifts in sentiment could lead to increased volatility in the currency pair moving forward.
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Data Source: FX Killer Analysis Team Updated: 2025-11-14 01:25
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.