Pound Sterling Price News and Forecast: GBP surges against US Dollar ahead of US NFP data

FXStreet Team FXStreet

British Pound surges against US Dollar ahead of US NFP data

The British Pound (GBP) trades 0.5% higher to near 1.3340 against the US Dollar (USD) during the European trading session on Thursday. The GBP/USD pair reflects strength as the US Dollar underperforms its peers ahead of the United States (US) Nonfarm Payrolls (NFP) data for June, which will be published at 12:30 GMT.

At press time, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades 0.4% lower to near 101.00. Read more...

GBP/USD Price Forecast: Extends recovery to near 20-day EMA amid hopes of commitment to fiscal rules

The British Pound (GBP) trades higher against its major currency peers, rising 0.1% to near 1.3290 against the US Dollar (USD) during the European trading session on Thursday. The Pound Sterling has been outperforming its peers the entire week amid firm hopes that the ongoing United Kingdom (UK) fiscal principles will continue despite the leadership change.

Historically, the entry of a new leader into the parliament leads to changes in the government’s current economic agenda. However, Greater Manchester Mayor Andy Burnham, the frontrunner for the UK’s leadership position after Prime Minister (PM) Keir Starmer’s resignation, has vowed to stick with the pointers reflected in the Labour Party’s 2024 manifesto, a scenario that indicates the continuation of ongoing fiscal policy. Read more...

GBP/USD Elliott Wave bearish structure calls for further weakness [Video]

GBP/USD continues to show an incomplete bearish sequence from the January 27, 2026 high, keeping the bias tilted lower. The potential target can be measured using the 100% to 161.8% Fibonacci extension from that peak. This calculation defines a zone between 1.252 and 1.295, which remains the key area of interest for traders. The near‑term structure supports this view, as the decline from the May 1 high is unfolding as a five‑wave impulse. From May 1, wave 1 ended at 1.33, while the corrective rally in wave 2 concluded at 1.35. The pair then resumed its downward path in wave 3, reaching 1.314.

Wave 4 is now in progress and shows internal subdivision as a double three corrective structure. From the wave 3 low, wave ((w)) ended at 1.326, followed by a pullback in wave ((x)) that completed at 1.321. The pair then advanced in wave ((y)), which remains active and should extend further towards 1.33 to 1.34 before turning lower. This corrective rally is expected to be temporary, as the larger bearish sequence continues to dominate. As long as the pivot at 1.346 high stays intact, the rally should fail in seven swings and give way to renewed weakness. The overall technical picture reinforces the downside bias, suggesting GBPUSD is likely to extend its decline in line with the incomplete bearish sequence. Read more...

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FXStreet Team

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