SocGen suggests that if there is strong economic data from the US and the Bank of England (BoE) reduces interest rates by 25 basis points, the GBPUSD exchange rate, currently at 1.27881, may possibly decline below 1.25.

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GBPUSD Chart by TradingView

GBP is vulnerable if the BoE does not hike by 50 bps, in the view of Kit Juckes, Chief Global FX Strategist at Société Générale.

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