{
  "id": 18171846,
  "title": "British Pound: Recovery targets upper 1.36 area against US Dollar – Scotiabank",
  "url": "https://urgent.news/2026/11/04/british-pound-recovery-targets-upper-1-36-area-against-us-dollar",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-04T19:35:47.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/british-pound-recovery-targets-upper-136-area-against-us-dollar-scotiabank-202611041935"
  },
  "original_language": "en",
  "account": "Scotiabank's analysts observe the British pound gaining approximately 0.4% against the US dollar in a single day, with UK Prime Minister's economic indicators having minimal influence. The spotlight moves to the Bank of England's policy decision, where a 25 basis point increase is already anticipated, and additional tightening is expected. Technically, the analysts identify a favorable situation above the 200-day moving average, with a recovery from the mid-October lows aiming for the upper 1.36 region. The pound is leading the euro's progress versus the USD, rising around 0.4% intraday. The October UK Services and Composite PMI data were revised slightly lower to 52.8 and 52.9, respectively. Apart from the USD impact from the mid-term elections, the pound's attention will rapidly shift to tomorrow's Bank of England policy announcement. A quarter-point hike is almost entirely priced in, with swap markets forecasting an additional 75 basis points of tightening from the Bank of England over the next year. A daily closing above the 200-day moving average (1.3425) would be advantageous for the pound, a closing above 1.3470 (61.8% retracement of the GBP's August-October decline) being even more significant. The pound's performance supports the current belief that the robust recovery from the mid-October low, which has completed a major weekly reversal, will lead to a return to the upper 1.36 region in the upcoming weeks.",
  "summary": "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.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}