Pound Sterling Price News and Forecast: GBP/USD attracts some buyers on Wednesday amid a modest USD decline

FXStreet Team FXStreet

GBP/USD climbs back closer to 1.3100, upside seems limited ahead of UK data/US CPI

The GBP/USD pair regains positive traction during the Asian session on Wednesday and climbs to a fresh daily peak, closer to the 1.3100 round-figure mark in the last hour. Spot prices, however, remain below the overnight swing high, warranting some caution before positioning for any meaningful recovery from a three-week low, around the 1.3050-1.3045 region touched the previous day.

The US Dollar (USD) stalls its positive trend witnessed over the past three days and retreats from the vicinity of the monthly top amid the prospects for an imminent start of the Federal Reserve's (Fed) policy-easing cycle in September. This, in turn, is seen as a key factor lending some support to the GBP/USD pair. That said, a generally weaker tone around the equity markets could help limit losses for the Greenback and cap the currency pair amid bets that the Bank of England (BoE) will announce more interest rate cuts this year. Read more...

GBP/USD flat after UK labor market data, eyes on US CPI

The GBP/USD pair remains on the defensive, slipping toward 1.3050 during the American session. Despite a temporary boost from positive UK employment data earlier in the day, the pair struggles to hold its ground amid a cautious market atmosphere.

On Tuesday, the UK's Office for National Statistics (ONS) revealed that the ILO Unemployment Rate slightly decreased to 4.1% for the three months ending in July, down from 4.2%, aligning with market expectations. Employment figures showed significant improvement, with an increase of 265,000 jobs during the same period, compared to the previous rise of 97,000. Meanwhile, annual wage growth, as indicated by the Average Earnings Excluding Bonus, slowed to 5.1% from 5.4%. Read more...

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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.

AUD/USD seems vulnerable near 0.6800, 10-month low amid bullish USD

AUD/USD languishes near a 10-month low during the Asian session on Friday, awaiting a break below 0.6800 before the next leg up amid a bullish US Dollar. Firming Fed rate-hike expectations, along with fading hopes for US-Iran diplomacy, help the USD hold gains at its highest level since April 2025. Moreover, the RBA’s dovish tilt undermines the Aussie and backs the case for further losses.

USD/JPY bulls turn cautious near 160.00 amid intervention risks

USD/JPY enters a bullish consolidation phase around its highest level since early September as bulls turn cautious amid intervention risk near 160.00. Meanwhile, the downside seems cushioned as the wide US-Japan interest rate gap keeps the Yen carry trade active. Furthermore, the possibility of a jumbo Fed rate hike and Middle East uncertainties hold the US Dollar near a 19-month top, supporting the currency pair.

Gold remains on the back foot below $3,900

Gold now alternates gains with losses below the $3,900 mark per troy ounce on Friday. The precious metal struggles to regain traction amid the firmer US Dollar, mixed US Treasury yields and expectations of further tightening by the Fed at its December meeting.

Bitcoin just posted five straight losing weeks, and the storm may not be over yet

Bitcoin is struggling to find support, slipping below $70,000 as multiple headwinds threaten to push the Crypto King lower. The much-anticipated “Uptober” rally failed to materialize, with persistent selling pressure and widespread liquidations instead reinforcing the “Rektober” narrative.

Week ahead – Fed Minutes, inflation data and Nvidia earnings to guide investors

Fed minutes may add to hawkish tone as bets of 50-bps hike grow. Nvidia to report earnings as bar to impress high after spy scandal. Trade and geopolitics to be focal point of Trump-Xi summit.

Gold hit its lowest level of 2026 near $3,850

Gold (XAU/USD) attempts to stabilize around $3,890 on Friday after falling to $3,852 on Thursday, its lowest level since October 2025. The precious metal has lost more than 4% this week, as investors increasingly anticipate further monetary tightening from the Federal Reserve (Fed). The latest decline reflects a sharp change in market expectations.