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

FXStreet Team FXStreet

GBP/USD Price Forecast: Slides below 1.3250 after failing to break through 23.6% Fibo.

The GBP/USD pair meets with a fresh supply during the Asian session on Wednesday and moves away from a nearly two-week high around the 1.3275 region, touched the previous day. Spot prices currently trade around the 1.3235 zone, down 0.20% for the day, as traders look to speeches from Bank of England (BoE) Governor Andrew Bailey and Federal Reserve (Fed) Chair Kevin Warsh for a fresh impetus.

From a technical perspective, the GBP/USD pair has been struggling to make it through the 23.6% Fibonacci retracement level of the May-June downfall. This comes on top of the recent repeated failures near the 200-period Simple Moving Average (SMA) on the 4-hour chart and a breakdown below the 1.3300 mark, which, in turn, favors bearish traders. However, mixed momentum indicators warrant some caution before positioning for deeper losses. Read more...

British Pound weakens below 1.3250 on UK political risks, BoE repricing

The GBP/USD pair trades in negative territory around 1.3245 during the early Asian trading hours on Wednesday. Traders await the UK political developments, focusing on potential leadership by Andy Burnham and adherence to existing fiscal rules. Bank of England (BoE) Governor Andrew Bailey is set to speak later in the day. On Thursday, all eyes will be on the US jobs data for June.

The UK's likely next Prime Minister Burnham vowed on Monday to deliver radical change to the nation's politics by handing more power to its regions and by encouraging collaboration over argument in a 10-year mission to spur "good" growth. Traders will closely monitor choice for finance minister, which could prove crucial to the outlook for both the pound and the gilt market. Read more...

British Pound holds firm as political stability offsets UK growth miss

The Pound Sterling (GBP) advances 0.11% on Tuesday against the US Dollar (USD) despite UK data showing the economy is slowing, while the latest US jobs report indicated that the number of vacancies rose in May, according to the US Bureau of Labor Statistics. At the time of writing, the GBP/USD pair trades at 1.3270.

The UK Office for National Statistics reported that Gross Domestic Product (GDP) for Q1 2026 expanded by 0.6% QoQ as expected, boosted by services, specifically computer programming, commented Liz McKewon, the director of economic statistics at the ONS. However, on a yearly basis, the economy grew by 0.9%, below estimates and the prior reading of 1.1%. Read more...

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

GBP/USD slides below 1.3250 after failing to break through 23.6% Fibo

The GBP/USD pair meets with a fresh supply during the Asian session on Wednesday and moves away from a nearly two-week high around the 1.3275 region, touched the previous day. Spot prices currently trade around the 1.3235 zone, down 0.20% for the day, as traders look to speeches from Bank of England Governor Andrew Bailey and Federal Reserve Chair Kevin Warsh for a fresh impetus.

EUR/USD keeps losses near 1.1400 ahead of Eurozone inflation data

EUR/USD keeps the offered tone intact near 1.1400 in early Europe on Wednesday, pressured by receding bets for aggressive tightening by the European Central Bank (ECB). Traders will take more cues from the preliminary reading of the Eurozone's Harmonized Index of Consumer Prices and the US Manufacturing PMI report due later in the day.

Gold sticks to bearish bias below $4,000 amid Fed hike bets and Iran risks

Gold attracts fresh sellers following the previous day's good two-way price swings, and weakens further below the $4,000 psychological mark through the Asian session. This marks the third straight day of a slide and keeps the precious metal closer to its lowest level since November 2025. Moreover, a bullish US Dollar suggests that the path of least resistance for the bullion is to the downside.

Solana: Retail confidence backs SOL testing 50-day EMA breakout near $75

Solana price extends gains, testing the 50-day Exponential Moving Average around $75.00. Although institutional demand for Solana remains weak, stabilizing retail confidence, with rising funding rates and steady Open Interest, supports the mild recovery. The technical outlook for SOL shifts mildly bullish, projecting a potential breakout rally toward the $100 mark.

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 European Central Bank Forum will, as it does every year, gather the crème de la crème of central banks. The new boss at the Federal Reserve, who has clearly said that the Fed should stop explaining everything, will need to talk – and traders should listen.

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.