Pound Sterling Price News and Forecast GBP/USD: Can renewed Brexit optimism save the pound?

FXStreet Team FXStreet

GBP/USD Weekly Forecast: Recovery time? UK inflation and jobs data could counter dollar surge

GBP/USD has been extending its decline in response to high US inflation data. Highest since 1990 – US inflation has hit 6.2%, reaching not only a historic peak but also sending the dollar substantially higher. The mix of Brexit acrimony and disappointing UK growth figures contributed to a downfall for GBP/USD. What's next? Critical data for the subsequent rate decisions stand out in the upcoming week. Read more...

GBP/USD Forecast: Can renewed Brexit optimism save the pound?

GBP/USD has been having a tough time staging a rebound. GBP/USD has extended slide to a fresh 2021 low early Friday before going into a consolidation phase. The pair's potential recovery depends on Brexit developments as the dollar is likely to hold its ground with investors pricing a 72% chance of a Federal Reserve rate hike by June 2022. Read more...

GBP/USD Price Analysis: Failure at 1.3430 opens the door for a further downfall, towards 1.3200

The British pound bounces off year-to-date lows at 1.3352, edges up 0.40%, trading at 1.3418 during the New York session at the time of writing. In the last three days, cable lost almost 2%, driven mainly by US dollar strength, influenced by higher inflation figures in the US economy, reported by the Labor Department. Also, a dovish stance perceived by investors in the last Bank of England (BoE) monetary policy meeting fueled the slide of the GBP. Read more...

GBP/USD

Overview
Today last price	1.3418
Today Daily Change	0.0054
Today Daily Change %	0.40
Today daily open	1.3364

Trends
Daily SMA20	1.3662
Daily SMA50	1.3676
Daily SMA100	1.3742
Daily SMA200	1.3846

Levels
Previous Daily High	1.3433
Previous Daily Low	1.3359
Previous Weekly High	1.3698
Previous Weekly Low	1.3424
Previous Monthly High	1.3834
Previous Monthly Low	1.3434
Daily Fibonacci 38.2%	1.3387
Daily Fibonacci 61.8%	1.3405
Daily Pivot Point S1	1.3337
Daily Pivot Point S2	1.3311
Daily Pivot Point S3	1.3263
Daily Pivot Point R1	1.3412
Daily Pivot Point R2	1.346
Daily Pivot Point R3	1.3486

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 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.