Pound Struggles as UK Labor Market Weakens and Recession Risk Rises

Pound Sterling faces pressure amid deteriorating UK labor market conditions and economic slowdown.

UK Office for National Statistics reported declining employment for the third month in a row.

Bank of England expected to leave interest rates unchanged at 5.25% on November 2.

GBP/USD recovered as US dollar weakened, but outlook remains bearish due to economic concerns.

Technical analysis shows Pound aims for stability above 1.2200, but long-term trend remains down amid bearish indicators.