GBP/USD Pound Stuck Under 1.33 as BoE Faces Greater Rate Uncertainty Amid Oil Price Surge

GBP/USD Struggles Amid Bank of England Uncertainty

On Friday morning in London, the British pound hovered around 1.3205, unable to rise above the 1.33 mark. The Bank of England is caught between persistent inflation and economic threats stemming from the ongoing oil crisis in the Middle East. Since reaching a high near 1.3870 in January, sterling has dropped over 650 pips, with Thursday’s 0.65% decline marking the fourth consecutive day of losses.

As of 10:00 a.m. London time, GBP/USD was trading at 1.3205, down 0.12% for the day after briefly testing support at 1.3180 overnight。The currency pair faces immediate resistance between 1.3380 and 1.3399; breaking above this range is crucial to reversing the current downward trend。