The GBP/USD currency pair is currently holding steady around the exchange rate of 1.3090 in early European trading on Friday. This modest gain comes amid persistent bearish momentum as the pair struggles to break above the critical 100-day Exponential Moving Average (EMA). Traders are weighing the implications of potential monetary policy shifts, particularly with increasing speculation surrounding a Bank of England (BoE) rate cut in December.
Despite the stability in the GBP/USD exchange rate, bullish prospects appear limited due to these rate cut expectations. Market participants are closely monitoring the unfolding economic landscape, as a cut could significantly impact the currency pair's performance in the near term. With the USD maintaining a strong stance, the dynamics between the British pound and the dollar will be pivotal for future trading sessions.
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Data Source: FX Killer Analysis Team Updated: 2025-11-21 06:54
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.