Pound Needs Fourth BoE Dissenter as GBP/USD Stalls Near 1.35

GBP/USD traded around 1.3500 on Tuesday, August 11, slightly softer on the day and confined to a range of barely 25 pips. The pound was left without meaningful direction from the UK calendar, with no tier-one data or events to guide price action.

Some market participants argued that sterling requires a fourth hawkish dissenter on the Bank of England’s Monetary Policy Committee to regain upward momentum. Without that, the currency may struggle to break out of its recent lethargic range.

Amid the lack of domestic catalysts, the pair drifted lower as the dollar held steady, leaving GBP/USD near the 1.35 handle with little conviction.