GBP/USD: Any decline is likely part of a lower range of 1.3210/1.3310 – UOB Group

FXStreet Insights Team FXStreet

There is room for Pound Sterling (GBP) to weaken further; any decline is likely part of a lower range of 1.3210/1.3310. In the longer run, strong downward momentum continues to suggest GBP weakness; the next level to monitor is May’s low of 1.3140, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Strong downward momentum continues to suggest GBP weakness

24-HOUR VIEW: "We expected GBP to 'consolidate between 1.3315 and 1.3385' yesterday. Although GBP subsequently rose and tested 1.3385, it plunged during the NY session, reaching a low of 1.3229. Today, there is room for GBP to weaken further, but any decline is likely part of a lower range of 1.3210/1.3310. GBP is unlikely to break clearly below 1.3210 or above 1.3310."

1-3 WEEKS VIEW: "Our most recent narrative was from two days ago (29 Jul, spot at 1.3350), in which we highlighted that 'price action continues to suggest GBP weakness, and the next technical target is 1.3300.' Yesterday, GBP fell and exceeded our target, as it dropped to a low of 1.3229. Strong downward momentum continues to suggest GBP weakness, and the next level to monitor is May’s low of 1.3140. On the upside, the ‘strong resistance’ level is now at 1.3355, rather than the previous level of 1.3445. A breach of the ‘strong resistance’ would indicate that the weakness has begun to stabilise."

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

GBP/USD advaces beyond 1.3450 after BoE decision, US Q2 GDP

GBP/USD gains positive momentum on Thursday, surpassing 1.3450 and trading at fresh multi-week highs. The Bank of England decided to maintain the benchmark rate unchanged at 3.75%. The MPC voted 6-3 to keep rates on hold, with the 3 dissenters favoring a rate hike. US Q2 GDP missing expectations helped the pair advance, while renewed US Dollar weakness across the FX board pushed the pair further up ahead of the monthly close.

EUR/USD confortable around 1.1530, highest in six weeks

The EUR/USD pair trades around 1.1530 in the American session on Thursday, reaching fresh six-week highs. The US Dollar is in sell-off mode, with multiple factors weighing on the American currency. Not only did the Federal Reserve vote divided to keep rates on hold on Wednesday, creating doubts about a September hike, but US Q2 GDP missed expectations. A suspected JPY intervention adds pressure on the Greenback.

Gold sellers keep lurking above $4,100 as USD rebounds

Gold struggles to capitalize on its gains registered over the past two days and trades with a mild negative bias just below $4,100 in the Asian session on Friday. The US Dollar recovers slightly from its lowest level since June 17 amid a further escalation of US-Iran tensions, acting as a headwind for the bullion.

Why is IDR near historic lows despite Bank Indonesia's 5.75% rate?

The Indonesian Rupiah has faced persistent depreciation pressures against the US Dollar during the first half of 2026, with the USD/IDR pair stabilizing around the 18,100–18,200 range at the time of writing after reaching a record high at 18,247 on June 8, marking the Rupiah's weakest level on record against the Greenback.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.