A buildup of long positions ahead of a potential interest rate cut on Thursday could hold back the British Pound.
Pound Sterling has retreated against the Euro and Dollar but extended gains against the Australian and New Zealand Dollars amidst deteriorating investor sentiment.
According to the latest data showing how global investors view the currency, investor optimism in the British Pound has reached record levels.
The British Pound might find the Bank of England keeps interest rates elevated for longer as the Government agrees to a round of inflation-busting pay increases.