GBP/USD remains on the defensive below 1.2150, Fed, BoE rate decisions eyed

GBP/USD extends its downside around 1.2140 ahead of key events. Federal Open Market Committee (FOMC) is expected to hold the rate unchanged at its November meeting while holding a hawkish stance. Bank of England (BoE) is anticipated to keep rates steady amid the fear of potential recession in the UK. The FOMC and BoE meetings will be in the spotlight ahead of the US Nonfarm Payrolls data. The major pair faces rejection near the 1.2200 mark.

Following the meeting, BoE governor Andrew Bailey might offer some hints about the latest forecasts for the UK economy and the future of monetary policy. The weaker UK data and stubborn inflation exert pressure on the British Pound (GBP) and act as a headwind for the GBP/USD pair. Additionally, the elevated geopolitical risks in the Middle East might boost safe-haven flows and benefit the Greenback.

GBP/USD Price Analysis: Consolidates above 1.2100 ahead of Fed, BoE decisionsGBP/USD hovers around the 1.2120 level with a negative tone during the Asian session on Monday. The pair moves sideways ahead of the policy meetings o Read more ⮕

GBP/USD fails to hold above the 20-day SMA, eyes on BoE and FedIn Tuesday’s session, the GBP/USD traded in the 1.2120 – 1.2200 range, closing with mild losses around 1. Read more ⮕

Pound Sterling drops as BoE-Fed policy divergence seems intactThe Pound Sterling (GBP) drops as investors turn risk-averse amid upside risks to Middle East tensions and anxiety ahead of the interest rate decision by the Bank of England (BoE). Read more ⮕

Pound Sterling Price News and Forecast: GBP/USD fails to hold above the 20-day SMA, eyes on BoE and Fed. Read more ⮕

GBP/USD: Daily close above 1.2180 would add to momentum for deeper push above 1.22GBP/USD trades firmer near 1.22. Economists at Scotiabank analyze Sterling’s outlook. Read more ⮕

Pound Sterling Price News and Forecast: GBP/USD now moved into a consolidative phaseIn the absence of high-impact data releases, GBP/USD benefited from the risk-positive market atmosphere on Monday and climbed toward 1. Read more ⮕