Pound Sterling Price News and Forecast: GBP/USD attracts fresh sellers on Tuesday

FXStreet Team FXStreet

British Pound sticks to intraday losses vs bullish USD after downbeat UK PMIs

The GBP/USD pair adds to its modest intraday losses and touches a fresh daily low, around the 1.3215-1.3210 region during the first half of the European session. Moreover, the fundamental backdrop seems tilted in favor of bearish traders and suggests that the path of least resistance for spot prices remains to the downside.

The British Pound (GBP) meets with a fresh supply in the face of the deepening UK political crisis following Prime Minister Keir Starmer's resignation amid mounting pressure from the Labour Party. Adding to this, the disappointing release of the flash UK PMIs exerts additional pressure on the GBP, which, along with sustained US Dollar (USD) buying, contributes to the offered tone surrounding the GBP/USD pair. Read more...

GBP/USD Price Forecast: Bearish bias persists as pair tests Symmetrical Triangle breakdown zone

The British Pound (GBP) trades slightly lower against its major currency peers during the European trading session on Tuesday, but remains firm against Asia-Pacific currencies. The GBP/USD pair drops 0.1% to near 1.3237 as investors seek clarity regarding how the United Kingdom (UK) fiscal policy will shape up after the leadership transition triggered by the resignation of Prime Minister Keir Starmer.

On Monday, Starmer announced his resignation from the premiership and ensured an orderly handover of responsibilities. Starmer’s resignation has cleared the way for Greater Manchester Mayor Andy Burnham’s leadership bid or a wider contest among potential candidates over the summer. Read more...

GBP/USD: Cable’s two-timeframe problem

A Prime Minister resigning should be a one-day headline. The more interesting question is why the chart was already leaning this way before the news crossed.

GBP/USD trades at 1.3235 as Westminster digests Keir Starmer’s resignation, with nominations for a successor opening on 9 July. The political risk premium is real, but it is landing on a pair that had no technical reason to be bid. That is the part worth slowing down on. Read more...

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GBP/USD extends losses toward 1.3200 on persistent USD strength

GBP/USD loses further ground toward 1.3200 in the second half of the day on Tuesday. Political uncertainty in the United Kingdom weighs on the British Pound, alongside weak business PMI data for June. Meanwhile, the US Dollar capitalizes on the risk-off mood and hawkish Fed bets ahead of the US PMI release.

EUR/USD falls to fresh 12-month low below 1.1400

EUR/USD comes under renewed selling pressure in the second half of the day on Tuesda and trades at its lowest level since June 2025 below 1.1400. Mixed PMI data from Germany and the Eurozone makes it difficult for the Euro to find demand, while the risk-averse market atmosphere supports the USD, forcing the pair to stay on the back foot. Traders now await the US PMI data.

Gold drops to nearly two-week low, tests $4,100

Gold (XAU/USD) turns south following Monday's rebound and trades deep in the red near $4,100 on Tuesday. Despite positive signals from US-Iran peace talks, widespread skepticism remains toward a final deal and weighs on the precious metal. In the meantime, the USD gathers strength on hawkish Fed expectations and drags XAU/USD lower.

Dogecoin risks fresh yearly lows as bears tighten grip

Dogecoin (DOGE) remains under pressure, trading below $0.09 after failing to break above a key resistance zone, and losing more than 7% last week. Weakening institutional interest, declining social dominance and a rise in bearish derivatives positioning continue to weigh on DOGE. In addition, deteriorating momentum indicators suggest the meme coin risks a deeper correction.

US S&P Global PMI expected to show steady business growth in June

S&P Global will release the June flash Purchasing Managers' Indices for most major economies, with the United States data scheduled on Tuesday. These surveys of top private-sector executives are seen as an early indicator of the country’s economic health.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.