The Pound Sterling is under intense pressure as GBP/USD has dropped significantly. After losing nearly 1 percent on Wednesday, the pair slipped to its lowest level since November 2023, trading below 1.2250. This downturn occurs as the UK government faces a gilt selloff, adding to the currency’s woes. Despite a slight recovery in the last hour, GBP/USD remains firmly in negative territory. Traders should closely follow developments as they could impact future movements of the British pound. Additionally, market sentiment will be critical in determining the currency’s performance in the coming weeks.