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GBPUSD: Intraday Analysis & Forecast

The British pound found stabilized around $1.25, while the US dollar held near its peak since November, fueled by expectations of a more cautious stance from the Bank of England compared to the US Federal Reserve regarding monetary policy. Recent market sentiment suggests an 80% probability of the BoE initiating its first move in August, followed by a 60% chance of a subsequent cut this year.

Conversely, the likelihood of the Federal Reserve implementing its first rate cut in September has diminished, reflecting concerns over sluggish progress in reining in inflation to the 2% target.

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