Societe Generale strategists highlight that GBP/USD has rebounded from the lower boundary of its multi‑month range and reclaimed its 200‑DMA, suggesting scope for further recovery. The bank sees resistance near 1.3555/1.3600 and 1.3660, with first support at the 200‑DMA around 1.3420.
The Bank of England (BoE) is set to reveal its latest monetary policy decision on Thursday, coinciding with its seventh rate-setting meeting of 2026.
Scotiabank’s FX strategists note the Pound rising about 0.4% intraday against the US Dollar, with UK PMI revisions having little impact. Market focus shifts to the Bank of England decision, where a 25bp hike is largely priced and further tightening expected.