Pound Sterling (GBP) saw a modest recovery during the European trading session on Friday, as the UK's fiscal deficit narrowed to £20 billion. This improvement in fiscal health helped bolster GBP against major currencies, allowing it to regain some of the ground lost earlier in the week. The GBP/USD exchange rate showed signs of resilience, trading around 1.23, while the EUR/GBP pair also reflected the strengthening pound.
As traders digest the narrowing fiscal gap, the upward momentum in GBP is likely to be tested against the backdrop of ongoing economic uncertainties. Analysts suggest that while the recovery provides a temporary reprieve, key levels to watch include 1.25 for GBP/USD and 0.84 for EUR/GBP, which could dictate future price movements. Market sentiment remains cautious, with investors closely monitoring developments that could influence the UK's economic trajectory and monetary policy decisions.
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Data Source: FX Killer Analysis Team Updated: 2025-11-14 10:44
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.