GBP/USD could revisit the 1.2480 region – UOB

Pablo Piovano FXStreet

Further downside in GBP/USD could extend the decline to the 1.2480 zone in the next few weeks, note Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.

Key Quotes

24-hour view: We expected GBP to break below 1.2580 last Friday, but we indicated that “it remains to be seen if it can maintain a foothold below this level.” We also indicated that “the next support is at 1.2530.”. In line with our expectations, GBP broke below 1.2580 as it dropped to 1.2548 before ending the day at 1.2577 (-0.19%). Downward momentum has not increased much; this combined with oversold conditions, suggests that GBP is unlikely to weaken much further. Today, GBP is more likely to trade sideways, probably in a range of 1.2545/1.2625.

Next 1-3 weeks: Our update from last Friday (25 Aug, spot at 1.2600) still stands. As highlighted, the increase in downward momentum suggests GBP is likely to weaken to 1.2530, possibly 1.2480. We will continue to hold the same view as long GBP stays below the ‘strong resistance’ at 1.2685 (level was at 1.2720 last Friday).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

GBP/USD slides below 1.3250 after failing to break through 23.6% Fibo

The GBP/USD pair meets with a fresh supply during the Asian session on Wednesday and moves away from a nearly two-week high around the 1.3275 region, touched the previous day. Spot prices currently trade around the 1.3235 zone, down 0.20% for the day, as traders look to speeches from Bank of England Governor Andrew Bailey and Federal Reserve Chair Kevin Warsh for a fresh impetus.

EUR/USD keeps losses near 1.1400 ahead of Eurozone inflation data

EUR/USD keeps the offered tone intact near 1.1400 in early Europe on Wednesday, pressured by receding bets for aggressive tightening by the European Central Bank (ECB). Traders will take more cues from the preliminary reading of the Eurozone's Harmonized Index of Consumer Prices and the US Manufacturing PMI report due later in the day.

Gold sticks to bearish bias below $4,000 amid Fed hike bets and Iran risks

Gold attracts fresh sellers following the previous day's good two-way price swings, and weakens further below the $4,000 psychological mark through the Asian session. This marks the third straight day of a slide and keeps the precious metal closer to its lowest level since November 2025. Moreover, a bullish US Dollar suggests that the path of least resistance for the bullion is to the downside.

Solana: Retail confidence backs SOL testing 50-day EMA breakout near $75

Solana price extends gains, testing the 50-day Exponential Moving Average around $75.00. Although institutional demand for Solana remains weak, stabilizing retail confidence, with rising funding rates and steady Open Interest, supports the mild recovery. The technical outlook for SOL shifts mildly bullish, projecting a potential breakout rally toward the $100 mark.

Kevin Warsh isn't expected to say much in Sintra: That's exactly why markets will listen

Financial markets could find an important catalyst in the enchanting, fairytale-like landscape of Sintra this week. The European Central Bank Forum will, as it does every year, gather the crème de la crème of central banks. The new boss at the Federal Reserve, who has clearly said that the Fed should stop explaining everything, will need to talk – and traders should listen.

Kevin Warsh isn't expected to say much in Sintra: That's exactly why markets will listen

Financial markets could find an important catalyst in the enchanting, fairytale-like landscape of Sintra this week. The ECB Forum will, as it does every year, gather the crème de la crème of central banks. The new boss at the Fed, who has clearly said that the Fed should stop explaining everything, will need to talk – and traders should listen.