GBP/USD: BoE's Dovish Surprise Could Spark Selloff - Watch for a Break Below 1.26

Forex Analysis by Investing.com (Damian Nowiszewski) covering: GBP/USD. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com

But a dovish surprise is always in the cards and may create a trading opportunity in the GBP/USD pair.on Thursday takes center stage. While the consensus expects no change in interest rates, a surprise cut remains a possibility.

With the upcoming general election, the BOE is likely to hold rates steady to avoid influencing its outcome.. Its strong upward trajectory is fueled by the Bank of Japan's ultra-dovish stance compared to the Federal Reserve's aggressive rate hikes. Similarly,If the BOE adopts a dovish tone while the Federal Reserve remains hawkish, it could lead to a medium-term downward swing in GBP/USD.

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