Pound Sterling Price News and Forecast GBP/USD: Can growth prospects beat bears' technical stranglehold? US data eyed

FXStreet Team FXStreet

GBP/USD Weekly Forecast: Can growth prospects beat bears' technical stranglehold? US data eyed

Three top-tier UK releases, three higher than estimated results. Alongside an improved market mood that somewhat weighed on the dollar, GBP/USD has been able to find a bottom. The focus is firmly on US data, but also Brexit and covid headlines are set to move cable. GBP/USD has been able to recover from the lows amid upbeat UK data. A jam-packed US calendar ahead of Black Friday and Brexit headlines will set the tone. Mid-November's daily chart is showing bears remain in control. The FX Poll is pointing to short-term losses and gains further down the line. Read more...

GBP/USD rebounds above 1.3400, holds onto modest weekly gains

The GBP/USD pair rose during the American session and recovered from 1.3406 to the 1.3470 area, trimming losses. The recovery pushed the weekly result back into positive ground. Again cable found support at the 1.3400 area that has become a critical level. A break lower could trigger more losses, exposing the November low at 1.3351. The recovery faced resistance around 1.3500/10. The bearish bias will likely remain intact while under 1.3600. Read more...

GBP/USD

Overview
Today last price	1.3471
Today Daily Change	-0.0028
Today Daily Change %	-0.21
Today daily open	1.3499

Trends
Daily SMA20	1.358
Daily SMA50	1.3639
Daily SMA100	1.3723
Daily SMA200	1.3837

Levels
Previous Daily High	1.3514
Previous Daily Low	1.3464
Previous Weekly High	1.3607
Previous Weekly Low	1.3353
Previous Monthly High	1.3834
Previous Monthly Low	1.3434
Daily Fibonacci 38.2%	1.3495
Daily Fibonacci 61.8%	1.3483
Daily Pivot Point S1	1.3471
Daily Pivot Point S2	1.3443
Daily Pivot Point S3	1.3421
Daily Pivot Point R1	1.352
Daily Pivot Point R2	1.3542
Daily Pivot Point R3	1.357

GBP/USD Forecast: Brexit stays in the way of an extended rebound

GBP/USD has lost its bullish momentum near 1.3500 on Thursday but continues to trade above the ascending trend line coming from November 12. Although the technical outlook suggests that the pair could continue to push higher, buyers could remain hesitant while waiting for fresh Brexit developments. The data published by the UK's Office for National Statistics revealed on Friday that Retail Sales rose by 0.8% on a monthly basis in October. This reading came in better than the market expectation of 0.5% and helped the British pound gather strength in the early European session. Additionally, September's print got revised higher to 0% from -0.2%. 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 trades below 1.3500 on firmer USD, ahead of UK GDP

The GBP/USD pair trades with a negative bias for the second consecutive day and trades below the 1.3500 psychological mark during the Asian session amid modest US Dollar strength. The downside potential, however, seems limited as traders might opt to wait for the UK macro data dump, including the Q2 GDP report, before placing directional bets.

EUR/USD advances as US Dollar weakens amid cooling Inflation

EUR/USD halts its three-day losing streak, trading around 1.1530 during the Asian hours. The currency pair gains ground as the US Dollar faces challenges following the release of July's Consumer Price Index report. Inflation in the US moderated across a broad range of goods and services, which significantly cooled expectations for an aggressive Federal Reserve rate hike in September.

Gold retreats from June 5 high amid oil-driven Fed rate-hike bets

Gold retreats after touching a fresh high since June 5, around the $4,450 area, during the Asian session, and is currently placed near the lower end of its daily range. The immediate market reaction to signs of moderating US inflation seems to have faded amid expectations that higher energy prices will rekindle inflationary pressures.

Ripple and Stellar outlook: Stay under pressure as cautious sentiment builds

Ripple and Stellar remain under pressure, with both altcoins correcting slightly so far this week. XRP nears the key $1.00 support zone on Thursday, while XLM trades below critical technical levels. Mixed derivatives and on-chain metrics suggest cautious sentiment, leaving both tokens vulnerable to further downside while offering hope for a potential recovery.

UK GDP expected to show moderate Q2 growth

The United Kingdom’s Office for National Statistics will release the preliminary estimate of the second-quarter Gross Domestic Product on Thursday. Market analysts anticipate a 0.4% growth in the three months to June, after a modest 0.6% advance in the first quarter of 2026. Annual progress is expected at 1.1%, up from the 0.9% posted in March.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.