GBP is Experiencing a Downward Trend: Overview for November 09, 2023

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/GBPUSD_14-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="GBP/USD analysis today" decoding="async" style="margin-bottom: 15px;" loading="lazy" /></div><p>The <a href="https://roboforex.com/beginners/info/charts/forex/gbpusd/" data-internallinksmanager029f6b8e52c="36" title="GBP/USD">GBP/USD</a> pair is facing losses after comments from the Bank of England.</p>

<p>The British pound has been on a decline against the US dollar for the past three sessions. The current exchange rate for GBP/USD is at 1.2286.</p>

<p>The pound's decline gained <a href="https://blog.roboforex.com/blog/2019/11/12/momentum-efficient-oscillator-or-trend-indicator/" data-internallinksmanager029f6b8e52c="96" title="Momentum">momentum</a> after the Bank of England's chief economist, Huw Pill, hinted at a potential <a href="https://blog.roboforex.com/blog/2019/10/22/trading-news-how-to-earn-on-interest-rates/" data-internallinksmanager029f6b8e52c="90" title="Interest rate">interest rate</a> cut by mid-2024. This statement was seen as a shift in the central bank's stance on monetary policy.</p>

<p>Previously, BoE Governor Andrew Bailey had stated that it was premature to discuss lowering interest rates. However, he believes that <a href="https://blog.roboforex.com/blog/2022/06/30/what-is-inflation-reasons-and-consequences/" data-internallinksmanager029f6b8e52c="220" title="Inflation">inflation</a> could reach the target level of 2% by the end of 2025.</p>

<p>Market expectations regarding interest rates may change in light of this new information. Currently, investors are predicting a 25 basis point decrease in the lending rate next August. This potential delay in an interest rate cut has further weakened the already fragile pound.</p>

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<a href="https://my.roboforex.com/en/register/">Open Trading Account</a></p><p>The post <a rel="nofollow" href="https://blog.roboforex.com/blog/2023/11/09/gbp-is-experiencing-a-downward-trend-overview-for-november-09-2023/">GBP is Experiencing a Downward Trend: Overview for November 09, 2023</a> appeared first at <a rel="nofollow" href="https://blog.roboforex.com">R Blog – RoboForex</a>.</p>