{
  "id": 19263132,
  "title": "British Pound steadies below 1.3450 ahead of US CPI data",
  "url": "https://urgent.news/2026/11/10/british-pound-steadies-below-1-3450-ahead-of-us-cpi-data",
  "topic": "world",
  "section": "World",
  "published": "2026-11-10T01:45:52.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/british-pound-steadies-below-13450-ahead-of-us-cpi-data-202611100145"
  },
  "original_language": "en",
  "account": "The British Pound stabilised at a level below 1.3450 early on Tuesday, as traders opted to observe US Consumer Price Index (CPI) data further into the day. Bank of England policymaker Sarah Breeden is scheduled to deliver a speech, alongside anticipation of a stronger-than-anticipated US Nonfarm Payrolls (NFP) report, which has bolstered forecasts that the US Federal Reserve (Fed) might keep interest rates elevated for an extended period. Consequently, this could bolster the Greenback in the immediate future. The probability of the Fed raising rates in December now stands at 84.0%, compared to 72.8% pre-US jobs data, as per the CME FedWatch tool. The US CPI inflation report will be the focal point later on Tuesday, with the headline CPI anticipated to register a 0.3% MoM increase in October, and core CPI, excluding volatile food and energy costs, expected to rise by 0.2%. The report will omit the October annual reading due to a government shutdown a year prior that hindered the BLS from amassing certain data to compile a full index level. The Bank of England had recently increased its benchmark interest rate by 25 basis points (bps) to 4.00%, marking its first hike in over three years. Governor Andrew Bailey attributed the rate hike to rising energy prices due to the Middle East war. Market projections now suggest three additional hikes by year-end, more than the consensus among economists. Societe Generale strategists note that the UK rates market has begun cautiously, with the 10-year IRs remaining steady at 4.70% after touching 4.69% (100-day moving average) last week. The support level is identified at 4.58%, while resistance is positioned at 4.78%, framing a narrow technical range as investors await policy cues. Governor Bailey's upcoming appearance in Zurich, the first since the MPC rate increase week, may influence expectations regarding the BoE's reaction. Societe Generale highlights that Thursday's pre-quarterly GDP data will be a critical domestic indicator, with SG forecasting a 0.7% qoq increase. The week ahead also promises a busy global agenda, including US CPI, PPI, Fed speeches, EU 3Q GDP second read, UK pre-quarterly GDP, and CPI data from Mexico, Norway, Czech Republic, Hungary, and India. BoE Governor Andrew Bailey's recent remarks have been rated 4.2/10 on FXS Speechtracker, significantly lower than the historical 6.4/10 baseline, indicating a less confident and less conviction-driven tone. Bailey's speech signals a more accommodative stance compared to past guidance that leaned more firmly toward maintaining restrictive policy. This combined uncertainty and flexibility around potential rate cuts suggests a risk favoring a weaker GBP, as markets are persuaded to strip out a persistent tightening bias and concentrate on downside growth scenarios. In the daily chart, GBP/USD displays a subtle bullish bias, as the price remains above the 100-day simple moving average and the Bollinger middle band, suggesting underlying demand during shallow pullbacks. The Relative Strength Index (RSI) at approximately 57 remains in positive territory, implying constructive upside momentum while price consolidates near the upper Bollinger band. On the upside, the immediate resistance is at the upper Bollinger band near 1.3500, with a breakout expected to propel a stronger advance. Conversely, the initial support is at the 100-day SMA around 1.3400, followed by the Bollinger middle line near 1.3370, and the lower band at 1.3238, marking a deeper support zone if the current bullish pattern were to reverse.",
  "summary": "The GBP/USD pair holds steady around 1.3445 during the early Asian trading hours on Tuesday. Traders prefer to wait on the sidelines ahead of US Consumer Price Index (CPI) inflation data later in the day. Also, Bank of England (BoE) policymaker Sarah Breeden is set to speak.",
  "key_points": [
    "British Pound stabilizes below 1.3450 amid US CPI data anticipation",
    "Bank of England policymaker Sarah Breeden to speak Tuesday",
    "US CPI report expected to show 0.3% MoM increase in October"
  ],
  "editors_take": "Market hesitation ahead of US inflation data reflects a shift toward cautious positioning as investors weigh potential Federal Reserve rate hikes against a more accommodative tone from the Bank of England.",
  "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."
}