Pound Sterling Price News and Forecast: GBP/USD bears face increased headwinds from 2026 low

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GBP/USD outlook: Bears face increased headwinds from 2026 low

Cable continues to trade near 2026 low (1.3159, posted on March 31 and last Friday’s low / trendline support at 1.3163) following news of resignation of UK PM Starmer.

Growing uncertainty about how the new Prime Minister (likely to be in place in early September) will run the economy, burdened by prolonged weak economic growth, high debt and the highest borrowing cost in G7 group, with demands to cut spending and increase investments, particularly in defense sector. Read more...

British Pound edges up above 1.3200 after PM Keir Starmer’s resignation

The British Pound (GBP) nudged up above 1.3200 against the US Dollar (USD) on Monday and maintains a mild positive tone, despite news that Sir Keir Starmer resigned as Prime Minister of the United Kingdom and Leader of the Labour Party.

Starmer appeared outside 10 Downing Street earlier on Monday to announce his resignation, adding that he will remain in charge until the party decides on a new leader and pledging support to whoever is the next PM. Read more...

GBP/USD Price Forecast: UK political uncertainty calls fresh leg of downfall ahead

The GBP/USD pair recovers some of its early losses, but is still 0.1% down to near 1.3220 during the early European trading session on Monday. The pair remains under pressure amid renewed United Kingdom (UK) political uncertainty after comments from United States (US) President Donald Trump that Prime Minister (PM) Keir Starmer could resign on failing to fix immigration and energy issues.

"Keir Starmer will resign as Prime Minister of The United Kingdom. He failed badly on two very important subjects- IMMIGRATION AND ENERGY (OPEN NORTH SEA OIL!). I wish him well!," US President Trump wrote in a post on Truth Social. 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.

GBP/USD rebounds toward 1.3250, markets assess UK PM Starmer resignation

GBP/USD regains its traction and rises toward 1.3250 in the European session on Monday following a drop below 1.3200 with the immediate reaction to UK PM Keir Starmer's resignation announcement.

EUR/USD holds near 1.1450 amid concerns over Iran deal progress

EUR/USD struggles to stage a rebound and fluctuates at around 1.1450 on Monday. Concerns about progress for the US-Iran peace deal and expectations of higher US interest rates keep the US Dollar supported against the Euro. ECB President Lagarde is set to speak later on Monday.

Gold rises above $4,200 as tensions ease in Middle East

Gold stays in positive territory above $4,200 on Monday, looking to snap a three-day losing streak. News of US and Iran making progress in the latest round of talks seems to be helping the precious metal hold its ground at the beginning of the week.

Breaking: Iran closes the Strait of Hormuz amid ceasefire deal violation

Iran says it is closing the Strait of Hormuz after accusing the United States (US) and Israel of violating the ceasefire. According to Iran, the decision came over the continued Israeli strikes in Lebanon. The Iranian Revolutionary Guard Corps Navy issued a warning to all vessels: "Do not approach the Strait of Hormuz; otherwise, your security will be jeopardized."

Canada CPI Preview: Inflation expected to tick higher in May, pressuring BoC outlook

The publication of Canada’s May Consumer Price Index figures on Monday will be the focus of attention. Indeed, Statistics Canada data will provide markets with an update on price pressures following its June 10 meeting, where policymakers kept the interest rate steady at 2.25%, matching the broad consensus.

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.