GBP/USD traded near 1.3330 in early European trading Monday, below 1.3350, as investors awaited UK labor-market and inflation reports that could inform expectations for Bank of England policy. FXStreet reported the pair near that level, and Bloomberg Línea’s market page also showed 1.3330.
The Office for National Statistics (ONS) has scheduled its UK labor-market release for 2 a.m. ET (06:00 UTC) Tuesday, Oct. 20, and its September consumer-price inflation report for the same time Wednesday, Oct. 21. Both releases remain unpublished.
FXStreet’s technical chart analysis, which it said was prepared with AI assistance, placed the 100-day simple moving average at 1.3390 and support near the 20-day average at 1.3250. Those levels are chart readings from the outlet’s analysis.
The Bank of England (BoE) kept Bank Rate at 3.75% in September in a 6-3 vote. Three members favored a quarter-point increase to 4%. MUFG Research said Oct. 16 that expectations for higher UK rates had helped sterling, but its analysts considered the 100 basis points of tightening priced into markets through September 2027 excessive.
The BoE also reported £2.5 billion in net consumer-credit borrowing in August, compared with £2.1 billion in July. Its third-quarter Credit Conditions Survey said credit-card defaults had increased, and lenders expected a further rise in the fourth quarter.
The Federal Open Market Committee is scheduled to meet Oct. 27-28, after the Federal Reserve raised its target range by a quarter point in September, to 3.75% to 4%. During an Oct. 16 fireside chat at the International Monetary Fund (IMF) Annual Meetings in Bangkok, Federal Reserve Chair Kevin Warsh said, “I don't prejudge meetings,” the Associated Press reported.
At 3:45 a.m. ET (07:45 UTC) Monday, Investing.com’s futures-based rate monitor put the probability of the Fed holding its target range at 83.9%. The BoE’s next policy announcement is scheduled for Nov. 5.
