The Pound Sterling (GBP) is witnessing a subdued trading session against its major currency peers as market participants brace for dovish signals from the Bank of England (BoE). Currently, GBP/USD is hovering around 1.2200, reflecting a slight downturn, while GBP/EUR is trading at 1.1650, indicating a cautious sentiment among traders. The anticipation of softer monetary policy from the BoE has led to a reluctance to push the currency higher.
As the week unfolds, the implications of the BoE's potential stance are weighing heavily on the GBP's exchange rate. Analysts suggest that unless there is a shift in the central bank's approach, the outlook for the Pound remains bearish against both the USD and EUR. With increased volatility expected, traders are advised to monitor key technical levels closely, particularly the support at 1.2150 for GBP/USD and resistance at 1.1700 for GBP/EUR.
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Data Source: FX Killer Analysis Team Updated: 2025-12-01 09:29
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.