The Pound Sterling (GBP) has drifted lower in line with the broader trend in the USD so far today, Scotiabank's Chief FX Strategist Shaun Osborne notes.
GBP consolidates
“PM Starmer is in Germany to try and rebuild UK/EU ties—a potential GBP-positive. BoE MPC member Mann, who dissented in favour of a hold at the last MPC policy decision, speaks at 8.15ET. A generally firm run of UK data reports in the recent past will not have allayed her concerns about an ‘upward ratchet’ to wage trends.”
“GBP is consolidating but has put minor bull trend support at 1.3235 behind it on the session, suggesting that a little more drift may develop in the short run. A low close on the session could form a bearish “harami” candle. GBP support is 1.3180.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD sticks to the bearish tone below 1.1600
Following Wednesday's blip, EUR/USD resumes its weekly downtrend, always in the sub-1.1600 zone, while the US Dollar (USD) continues to gain strength across the board on the back of positive results from Retail Sales and the weekly report from the labour market.
GBP/USD looks stuck around the 1.3400 level
GBP/USD fails to build on Wednesday's gains, trading in negative territory around 1.3400 on Thursday. The promising UK labour market data provided immediate support for the British Pound, but the strong tone in the Greenback keeps Cable under observation.
Gold bounces off lows, retargets $3,340
Gold is now pikcing up some pace, setting aside earlier lows and flirting with the area beyond the $3,330 per troy ounce on Thursday. The bearish bias in the precious metal comes in response to extra gains in the US Dollar and somewhat alleviated tensions on the trade front.
Top Crypto Gainers: FLOKI, BONK post double-digit gains, CRV targets $1
Solana-based meme coins Floki and Bonk edged lower by 2% at press time on Thursday, following the 30% gains on Wednesday, ranking as top crypto gainers in the last 24 hours. Curve DAO ranks third with a 21% surge following a triangle setup breakout, targeting the $1 psychological level.
China’s first-half growth remains on track, though activity data signals caution
China's second-quarter GDP beat forecasts again with a 5.2% year-on-year growth, driven by strong trade and industrial production. Yet sharper-than-expected slowdowns in fixed-asset investment and retail sales and falling property prices are a concern.
Best Brokers for EUR/USD Trading
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.