GBP's Weakness Continues: Overview for November 10, 2023

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/GBPUSD_15-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="GBP/USD analysis today" decoding="async" style="margin-bottom: 15px;" /></div><p>The <a href="https://roboforex.com/beginners/info/charts/forex/gbpusd/" data-internallinksmanager029f6b8e52c="36" title="GBP/USD">GBP/USD</a> pair is nearing its lowest point.</p>

<p>With the British pound sterling continuing to decline against the US dollar. The current exchange rate is at 1.2222.</p>

<p>Dovish comments from UK monetary policymakers have contributed to the pound's decline, with market attention focused on uncertain <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> forecasts.</p>

<p>Today, the UK will release a significant amount of economic data, including the Q3 <a href="https://blog.roboforex.com/blog/2019/10/29/trading-news-how-to-make-money-on-gdp/" data-internallinksmanager029f6b8e52c="93" title="GDP">GDP</a> assessment. The economy is expected to have contracted by 0.1% q/q, which is within the normal range but could cause concern if it shrinks further. Industrial production may also see a decrease due to high lending costs.</p>

<p>On November 15, the release of <a href="https://blog.roboforex.com/blog/2022/06/30/what-is-inflation-reasons-and-consequences/" data-internallinksmanager029f6b8e52c="220" title="Inflation">inflation</a> statistics in the UK will once again prompt a reaction from the pound.</p>

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