Post #15183

Pound Under Pressure as Rate Cut Bets Build GBP/USD is slipping toward a key support zone near 1.3200 after a steady downtrend in recent sessions. A confirmed break below 1.3200 could open the door to deeper downside targets around 1.3100, while a hold above might invite short-term dip buying from traders looking for value. The pound remains under heavy pressure as markets price in a growing chance of a Bank of England rate cut. Softer inflation and labor data have reinforced the case for policy easing, while fiscal tightening expected in November’s budget further supports the likelihood of earlier cuts. Market odds for a December rate cut have surged to 74% from 44% earlier this month, with gilt yields hovering near six-month lows — signaling expectations of looser financial conditions ahead. If 1.3200 holds, buyers may view this area as a short-term discount. However, a clean break below 1.3200 could accelerate selling momentum.