Investors expect the Bank of England to cut its policy rate by 25 bps.
UK disinflationary pressure gathered further steam in September.
The 200-day SMA near 1.2810 holds the downside in GBP/USD.
Market consensus points to further easing by the Bank of England's (BoE) upcoming interest rate decision on Thursday. The BoE has held rates steady at 5.00% in the previous gathering, but shifting investor sentiment now suggests a possible 25-basis-point cut this week.
No surprises are expected at the BoE meeting
At the bank’s September 19 meeting, policymakers stuck to quarterly rate cuts for now, with a November cut the most likely outcome. Regarding quantitative tightening, the committee voted unanimously to maintain the pace of reducing bond holdings by GBP 100 billion over the next 12 months, which again was in line with expectations.
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