|

GBP/USD Price Forecast: Slips below 1.3000 on risk aversion

  • GBP/USD begins the week down, struggling to hold above 1.3000.
  • Sellers eye key support at last week’s low of 1.2973, with further downside targets at the 100-DMA and the 200-DMA, each at 1.2959 and 1.2796.
  • Buyers must reclaim 1.3100 to challenge the 50-DMA at 1.3133 and aim for the YTD high of 1.3434.

The Pound Sterling is losing some ground against the Greenback. Increasing tensions in the Middle East are spurring a risk-off environment despite China’s efforts to propel its economy. At the time of writing, the GBP/USD trades at 1.2997, down 0.38%.

GBP/USD Price Forecast: Technical outlook

The GBP/USD begins the week on the back foot after opening at around 1.3039. Since then, the pair hit a 1.3057 high before sliding beneath the 1.3000 mark.

Momentum suggests that sellers are in charge, as portrayed by the Relative Strength Index (RSI). However, they must clear last week’s low of 1.2973 before challenging the 100-day moving average (DMA) at 1.2959, aiming to push prices toward the 200-DMA at 1.2796.

On the other hand, buyers must lift the GBP/USD spot price above 1.3100 so they can test the 50-DMA at 1.3133 as they prepare to challenge the year-to-date (YTD) high at 1.3434.

GBP/USD Price Action – Daily Chart

British Pound PRICE Today

The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Australian Dollar.

 USDEURGBPJPYCADAUDNZDCHF
USD 0.34%0.47%0.47%0.19%0.64%0.54%0.14%
EUR-0.34% 0.06%0.03%-0.09%0.27%0.09%-0.30%
GBP-0.47%-0.06% -0.02%-0.27%0.18%0.07%-0.40%
JPY-0.47%-0.03%0.02% -0.27%0.17%0.12%-0.40%
CAD-0.19%0.09%0.27%0.27% 0.35%0.40%-0.20%
AUD-0.64%-0.27%-0.18%-0.17%-0.35% -0.03%-0.60%
NZD-0.54%-0.09%-0.07%-0.12%-0.40%0.03% -0.47%
CHF-0.14%0.30%0.40%0.40%0.20%0.60%0.47% 

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).

Author

Christian Borjon Valencia

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

More from Christian Borjon Valencia
Share:

Editor's Picks

GBP/USD defends 1.3300 after strong UK Retail Sales data

GBP/USD is defending its renewed uptick above 1.3300 in the European session on Friday, helped by stronger-than-expected UK Retail Sales data for June. The pair snaps a five-day losing streak but the upside potential could be limited amid heightened military tensions in the Middle East.


EUR/USD holds gains near 1.1400 after strong German, EU PMIs

EUR/USD is holding gains near 1.1400 in European trading on Friday. The Euro draws support from an unexpected increase in the German and Eurozone business PMI readings for July. However, further upside appears limited by escalating conflicts in the Middle East, despite the ECB's hawkish hold decision. The US PMI data are next in focus.

Gold sticks to intraday losses below $4,050 amid Fed hike bets, bullish USD

Gold remains under some selling pressure for the second straight day, and weakens further below the $4,050 level during the Asian session. Escalating US-Iran tensions support elevated crude oil prices, fueling inflation fears and bolstering expectations of higher-for-longer US interest rates. This helps the US Dollar preserve its strong weekly gains to a nearly one-month high, touched on Thursday, and turns out to be a key factor undermining the non-yielding bullion.

Ethereum: Derivatives interest in ETH improves, but signs of caution remain

Ethereum is hovering slightly below the $1,900 level, down 3% on Thursday following a slight expansion in derivatives interest. The top altcoin's open interest has increased to 14.60 million ETH, marking a 600K ETH increase over the past two days and its highest level since June 7.

Crypto Market Overview: Bitcoin tests 50-day EMA support – Pi Network and Sky lead losses

The broader cryptocurrency market faces headwinds with rising tensions between the US and Iran, pushing Bitcoin down to its 50-day Exponential Moving Average support around $65,135 on Friday. Under pressure, Pi Network and Sky emerge as the worst-performing crypto assets over the last 24 hours.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?
The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.