GBP/USD prolonged its losses for two consecutive days after the pair reached a two-week high of 1.2288 but failed to crack the 1.2300 mark. Fundamenta
GBP/USD reached a three-day low of 1.2113, as sellers target 1.2100 for the next support. US economic data paints a solid economy, with New Home Sales rising 12.3% in September. UK data shows Manufacturing PMI remains in recessionary territory, and the labor market is easing. l news and geopolitical risks weighed on the Pound Sterling . At the time of writing, the pair trades at 1.2116, down 0.35%.
Growing speculations that the Bank of England would keep rates unchanged at 5.25% at the upcoming November 2 meeting increased Overall, the GBP/USD could extend its losses towards the 1.20 handle, as the economy docket in the United States would feature Q3 Gross Domestic Product , Durable Good Orders, and unemployment claims. If US GDP comes above expectations, that could trigger further downside on the GBP/USD.
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