The GBPUSD currency pair has reached a level of 1.22955. Currently, there is a limited amount of technical support, and the next significant level of support will likely be around 1.2000, according to MUFG.

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GBPUSD Chart by TradingView

The BoE’s latest policy update today is unlikely to soften downward pressure on Cable, economists at MUFG Bank report.

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