GBP/USD Plummets to Monthly Low as Fed Decision Looms
The GBP/USD pair is experiencing heavy selling pressure to start the week, with prices dropping towards the lower end of its monthly range near the 1.3480 region during the European session.
This decline is driven by a stronger US Dollar (USD), but bearish traders may hold back from aggressive bets ahead of key central bank events this week.
The Federal Reserve's decision on Wednesday and the Bank of England's meeting on Thursday will be closely watched for insights into monetary policy outlook, which could provide significant momentum to the GBP/USD pair.