Sterling Braces for Impact: GBP/USD Vulnerable as UK Budget Looms

The GBP/USD pair faces potential downward pressure ahead of the UK budget announcement

Expected downgrade in UK economic growth projections – Rising borrowing costs affecting spending plans – Potential public sector job cuts – Limited room for expansionary policies due to fiscal constraints

50 basis points of BoE rate cuts priced in for 2025 – Possibility of more aggressive cuts due to weakening labor market and trade uncertainties

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