GBP/USD: forecast for Oct. 23-27

GBP/USD had a bad week. Although investors are pricing in an 80% chance of a first 25 basis-point interest rate hike will come at the Bank of England’s next policy meeting on Nov. 2, doubts are growing about future rate hikes. British retail sales fell by 0.8% in September, dragging quarterly growth to its weakest annual rate since 2013.

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