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>>GBP/USD slides, remaining below the pivotal 1.3500 mark as fears of a BoE rate cut intensify.

GBP/USD slides, remaining below the pivotal 1.3500 mark as fears of a BoE rate cut intensify.

crypthub

about 16 hours ago

GBP/USD Bearish Trend

GBP/USD broke the 1.3500 barrier, confirming a sharp bearish move. A death‑cross on the 50‑day/200‑day averages and oversold RSI accompany a 40% rise in trading volume. The next support sits around 1.3300, the low not seen since 2023.

Rate‑Cut Expectations

Money‑market futures now price a 75% chance of a 25‑bp BoE cut at the next MPC meeting. Lower CPI (2.1%), stagnant Q4 GDP (0.1%) and dovish comments from Governor Jennings have driven the view. The ECB’s ongoing easing adds external pressure on the pound.

Impact and Outlook

A weaker pound lifts import costs but boosts export competitiveness, while options skew heavily toward puts. The Fed’s hawkish stance widens the UK‑US yield gap, reinforcing dollar strength. Traders watch upcoming UK CPI, GDP data and the MPC statement for the next direction.