FXStreet reports that economists at Westpac said that GBP/USD range support at 1.36 may remain under threat.

“Concerns of further supply constraints, shop shortages, and price triggering potential corporate failures (Green Gas has already folded) and household hardships have become a political issue with Govt. stepping in to avert other supply chain issues.” 

“How the BoE addresses supporting the post-pandemic recovery, which remains at risk of further lockdowns, and containing price pressures will also have to be balanced against how Chancellor Sunak seeks fiscal responsibility at the Autumn Budget (27th Oct.).” 

“BoE reactions will be critical for GBP/USD as it threatens support within its recent 1.36-1.40 range.”