Pound Sterling remains calm as focus shifts to BoE monetary policy meeting

The Pound Sterling (GBP) struggles to find a direction on Monday as investors await the interest rate decision from the Bank of England (BoE) for furt

Pound Sterling trades in a tight range as investors eye BoE monetary policy decision for further action. The BoE is expected to keep interest rates unchanged amid easing labor market conditions and subdued retail demand. Deepening Middle East tensions dent demand for risk-perceived assets. her decision-making. The GBP/USD pair trades sideways as the market mood turns quiet, with investors also seeking fresh developments over the Israel-Palestine conflict to take further action.

50% for the second time in a row. Apart from the Fed’s monetary policy, investors will focus on the Automatic Data Processing Employment Change and ISM Manufacturing PMI data for October. Technical Analysis: Pound Sterling consolidates above 1.2100 Pound Sterling trades back and forth above the round-level support of 1.2100 as investors await monetary policy decisions by the BoE and the Fed.

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