The British Pound is currently under bearish pressure amid unfavorable economic factors in the UK. The forecast for UK CPI inflation in September is only 3.9%, lower than the central bank's expectations. This could lead to more dovish expectations for monetary policy, putting pressure on GBP.
Additionally, the UK's budget announcement on November 26 will be another crucial factor. Until clear information from the budget is released, the British Pound is likely to remain in a "frozen" state with limited upward movement.
Technically, GBP/USD has reached resistance at 1.34500 and is experiencing a significant pullback. If the price fails to hold support at 1.32500, the likelihood of further decline to 1.32000 is high.
In conclusion, with weak fundamental factors and a bearish technical trend, the probability of GBP/USD continuing to decline is quite high in the near future.
Additionally, the UK's budget announcement on November 26 will be another crucial factor. Until clear information from the budget is released, the British Pound is likely to remain in a "frozen" state with limited upward movement.
Technically, GBP/USD has reached resistance at 1.34500 and is experiencing a significant pullback. If the price fails to hold support at 1.32500, the likelihood of further decline to 1.32000 is high.
In conclusion, with weak fundamental factors and a bearish technical trend, the probability of GBP/USD continuing to decline is quite high in the near future.
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