Core Viewpoint - The British pound has strengthened against the US dollar, reaching a high of 1.3338, supported by improved UK services PMI data, while the dollar remains under pressure ahead of anticipated Fed rate cuts [1]. Economic Data - The UK services PMI was revised up from an initial value of 50.5 to 51.3, remaining above the expansion threshold of 50.0. The composite PMI also rose to 51.2 [1]. - Despite the improvement in data, S&P Global noted that the economic fundamentals remain weak, with a slowdown in business activity and the largest drop in employment since February. Additionally, output price inflation has decreased to its lowest level since January 2021 [1]. Central Bank Expectations - The market expects the Bank of England to cut rates by 25 basis points in December, with a consensus that the central bank will then enter a prolonged pause to mitigate the risk of inflation resurgence [1]. - Conversely, the dollar is under pressure as the market has fully priced in a third consecutive rate cut by the Fed in December, with expectations for at least two more cuts by 2026 [1]. Technical Analysis - On the H4 chart, GBP/USD is on a strong upward trajectory, approaching a key resistance level at 1.3354. The price remains above the middle Bollinger Band, indicating a bullish trend [3]. - A successful breakout above 1.3354 could initiate a new upward movement targeting the resistance range of 1.3363-1.3380. If a pullback occurs, the important support level is at 1.3280, with a potential deeper correction if this level is breached [3]. - The H1 chart shows that GBP/USD maintains an upward trend, currently in a correction phase but still above the local support at 1.3179, which is the starting point of the previous upward movement. The overall structure remains bullish, with a potential retest of 1.3350 if the price stays above the middle Bollinger Band [6]. Conclusion - The strength of GBP/USD is attributed to the clear divergence in central bank policy expectations, favoring the pound in the short term. The currency pair is testing the critical resistance level of 1.3354, with a successful breakout likely to accelerate the upward trend, while failure to break could lead to a pullback towards 1.3280. Upcoming meetings of the Fed and the Bank of England will be crucial in determining whether this momentum can be sustained [7].

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Core Viewpoint - Morgan Stanley has ended its bullish stance on the British pound, indicating that the currency has likely witnessed its last positive catalyst recently [1] Summary by Relevant Sections - **Market Reaction to Budget Announcement** - Strategists, including David Adams, noted that while the pound may experience a brief surge following the UK budget announcement, the gains are expected to fade [1] - **Correlation with Stock Market** - The correlation between the pound and the US dollar has dropped to zero, which has diminished the attractiveness of this currency pair [1] - **Outlook on GBP/USD Positioning** - The strategists believe that the budget announcement may lead to a final rally, primarily driven by profit-taking on hedges, but ultimately, there are insufficient reasons to maintain long positions in GBP/USD [1]

Core Viewpoint - The British pound has experienced a short-term increase against the US dollar, rising by 28 points to a current rate of 1.3174 [1] Group 1 - The British pound's exchange rate against the US dollar is currently reported at 1.3174 [1] - The increase in the pound's value is quantified as a rise of 28 points [1]

Group 1 - The British pound has risen by 0.5% against the US dollar, reaching a two-week high of 1.3195 [1]

Core Viewpoint - The British pound has experienced a short-term decline against the US dollar, dropping by 40 basis points to a current rate of 1.3121 [1] Summary by Category - Currency Movement - The British pound fell by 40 basis points against the US dollar [1] - The current exchange rate is reported at 1.3121 [1]

Group 1 - The core viewpoint of the articles indicates that the GBP/USD exchange rate is influenced by the strengthening of the US dollar due to the potential resolution of the US government shutdown and concerns regarding the UK central bank's future interest rate decisions [1][2][4] Group 2 - The US dollar has strengthened as a result of bipartisan support for a budget agreement that would restore operations for some federal agencies and pay federal employees, alleviating market concerns about economic and financial uncertainty [1] - The Federal Reserve is expected to lower interest rates by 25 basis points in December, with a probability close to 66%, driven by rising layoff numbers in US companies, which has led to increased investor expectations for a rate cut [1] - The Bank of England has maintained its interest rate at 4.0%, with future rate cuts dependent on inflation trends, and market expectations suggest a potential rate cut before Christmas [2] - The technical analysis shows that the GBP/USD is currently around 1.3150, with short-term support at 1.3120 and resistance at 1.3200, indicating a weak short-term trend but potential for rebound based on US economic data and Bank of England signals [2]

Group 1 - The British pound has depreciated by 0.6% against the US dollar, reaching a value of 1.3258, marking the lowest level since August 4 [1]

Group 1 - The British pound has depreciated against the US dollar, with a decline of 0.3%, reaching a value of 1.3299 [1]

Group 1 - The British pound has depreciated by 0.5% against the US dollar, currently trading at 1.3417 [1]