Pound Sterling (GBP) is trading cautiously against major currency pairs as anticipation builds for the UK Consumer Price Index (CPI) data for October, set to be released on Wednesday. Currently, GBP/USD is hovering around 1.2150, reflecting a slight decline from earlier sessions. Market sentiment remains wary as investors assess potential implications for future monetary policy.
The cautious tone in the market is further emphasized by the GBP/EUR exchange rate, which is also under pressure, trading near 1.1500. With inflation figures expected to influence the Bank of England's stance on interest rates, traders are closely monitoring these upcoming indicators to gauge the potential for volatility in the GBP. Overall, the market remains poised for movement as analysts speculate on the direction of UK economic conditions in light of the CPI release.
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Data Source: FX Killer Analysis Team Updated: 2025-11-18 10:46
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.