Pound Sterling Price News and Forecast: GBP/USD flags more declines as BoE rate decision awaited

💡 DMK Insight

GBP/USD is slipping toward 1.3600, and here’s why that matters: traders are bracing for the Bank of England’s rate decision, which could shake up the market. The recent shift from weekly gains to losses indicates a cautious sentiment among traders. With the pair hovering near 1.3600, this level could act as a psychological barrier. If the BoE opts for a rate hike, we might see a bounce back, but if they maintain the current rate, expect further downside pressure. Keep an eye on the economic indicators leading up to the decision; inflation data and employment figures will be crucial. Also, consider the broader context: the U.S. dollar’s strength has been a significant factor in this pair’s movement. If the Fed signals a more aggressive stance, it could further weigh on GBP/USD. Watch for volatility around the announcement, as market participants—especially institutions—will likely react sharply. A break below 1.3600 could open the door to further declines, so traders should be prepared for quick moves.