GBP/USD firm near 1.3300 ahead of BoE

Cable’s upside stalled just below 1.3300 the figure overnight.
BoE is poised to hike rates after a decade.
Speculations points to a ‘dovish hike’.

Pablo Piovano FXStreet

The Sterling keeps the weekly upside well and sound despite Wednesday’s pullback and is now pushing GBP/USD to the vicinity of the 1.3300 handle, or session tops ahead of the BoE event.

GBP/USD all attention to the BoE

Cable is reverting yesterday’s retracement and keeps navigating the upper end of the range just pips away from the critical barrier at 1.3300 the figure.

GBP remains underpinned by solid expectations of a rate hike by the Bank of England at today’s meeting. However, previous market chatter over the likelihood of a ‘dovish hike’ could prompt investors to quickly ‘sell the fact’ and thus put the British Pound under renewed pressure.

Recent auspicious results from UK’s manufacturing PMI and advanced GDP figures for the third quarter keep underpinning the sentiment around GBP and somewhat reinforce the view of higher rates today.

In the US docket, the usual report on the labour market is due along with Challenger job cuts and speeches by FOMC’s J.Powell (dovish, permanent voter), Atlanta Fed R.Bostic (2018 voter, centrist) and NY Fed W.Dudley (permanent voter, centrist),

Further out in the US, attention remains on Trump’s announcement of the next Fed Chief (likely to be Jerome Powell) and Republicans should introduce the tax bill in Congress.

GBP/USD levels to consider

As of writing the pair is gaining 0.25% at 1.3279 and a breakout of 1.3299 (high Nov.2) would aim for 1.3338 (high Oct.13) and finally 1.3499 (2014-2017 resistance line). On the other hand, the next support emerges at 1.3210 (10-day sma) seconded by 1.3189 (55-day sma) and then 1.3070 (low Oct.27).

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 drifts lower below 1.3250 on steady BoE rate path, traders await US jobs data

The GBP/USD pair loses traction to around 1.3240 during the Asian trading hours on Tuesday. A potential rate hike from the US Federal Reserve provides some support to the US Dollar against the British Pound. The US ADP employment data and the US Nonfarm Payrolls data will take center stage later this week.

EUR/USD looks to extend intraday descent below 1.1400

The EUR/USD pair attracts some sellers during the Asian session on Tuesday, snapping a three-day winning streak and stalling its recent recovery from the lowest level since May 2025 set last week. Spot prices slip below the 1.1400 mark amid a firmer US Dollar and seem vulnerable to weaken further.

Gold recovers slightly from YTD low; not out of the woods yet

Gold recovers slightly from its lowest level since November 2025, touched during the Asian session, albeit it sticks to a negative bias for the second straight day. Against the backdrop of renewed Mideast tensions, mixed signals on US-Iran talks assist the US Dollar to attract some dip-buyers and stall its recent pullback from the highest level since May 2025.

Ripple defends critical support, Stellar extends recovery

Ripple (XRP) trades around the key $1.00 psychological level, consolidating as the token awaits its next directional catalyst. Stellar (XLM) extends its recovery above $0.178 after posting modest gains at the start of this week.

Just like Fed, is BoJ’s independence under threat?

When talking about central bank independence, most of the focus has been on Donald Trump’s pressure on the Federal Reserve. But a similar story, a quieter one for now, seems to be happening on the other side of the Pacific: Japan’s government may be testing the Bank of Japan’s independence.

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.