Pound Sterling Price News and Forecast: GBP struggles to extend gains ahead of BoE’s policy decision

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British Pound struggles to extend gains ahead of BoE’s policy decision

The British Pound (GBP) faces pressure in an attempt to extend the rally above 1.3500 against the US Dollar (USD) on Thursday. The British currency comes under pressure ahead of the Bank of England’s (BoE) monetary policy decision at 12:00 GMT.

Analysts at Deutsche Bank flag the BoE’s policy announcement at “12:00 London time” as one of the main highlights on today’s calendar. They note that the BoE is “widely expected to deliver their first-rate hike since 2023, with a 25bp move that takes their policy rate up to 4%.” Read more...

GBP/USD Price Forecast: Holds a bullish bias above key support ahead of BoE decision

The GBP/USD pair trades in positive territory near 1.3490 during the early European trading hours on Thursday. The US Dollar (USD) softens against the British Pound (GBP) after the Democrats take control of the US Congress in midterm elections.

The Democrats win a majority in the Senate and House of Representatives, taking control from Republicans. This achieved major victories in several Republican strongholds for the first time in decades, as tens of millions of voters delivered a sharp rebuke to President Donald Trump. Read more...

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