GBP/USD is experiencing downward pressure, currently trading just above the critical support level of 1.3000. The recent dip in UK retail sales has raised concerns over economic activity in the region, which, coupled with the anticipated fiscal constraints from the forthcoming UK budget, suggests that the Bank of England (BOE) may implement further easing measures beyond current market expectations of 63 basis points over the next year.
This weakening in the currency pair highlights the impact of disappointing economic data on the exchange rate, as traders reassess their positions in light of the BOE's potential actions. As the market adjusts, the outlook for GBP/USD remains cautious, with ongoing support at 1.3000 being crucial for maintaining stability amid rising pressure from the USD.
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Data Source: FX Killer Analysis Team Updated: 2025-11-21 11:37
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.