Pound Sterling Price News and Forecast: GBP/USD climbs above 1.2600, driven by optimistic UK data

FXStreet Team FXStreet

GBP/USD hits 12-week high amid positive data

The Pound Sterling (GBP) advances to a new 12-week high against the US Dollar (USD) courtesy of better-than-expected data revealed on Thursday, which sparked a sell-off of Gilts; consequently, UK bond yields rose. The GBP/USD is trading at 1.2606 after hitting a high of 1.2615.

S&P Global revealed that business activity in the United States (US) remains solid after the Services and Composite PMIs exceeded forecasts. Nevertheless, the Manufacturing PMI slipped below the 50 expansion/contraction threshold, painting a mixed scenario for the economy. In the next week, the Institute for Supply Management (ISM) will update the readings for December. Read more...

GBP/USD looks poised to extend its rebound – Scotiabank

Sterling a moderate outperformer on the day. Economists at Scotiabank analyze GBP’s outlook. Read more...

GBP/USD

Overview
Today last price	1.26
Today Daily Change	0.0066
Today Daily Change %	0.53
Today daily open	1.2534

Trends
Daily SMA20	1.2334
Daily SMA50	1.226
Daily SMA100	1.2501
Daily SMA200	1.2453

Levels
Previous Daily High	1.2576
Previous Daily Low	1.2489
Previous Weekly High	1.2506
Previous Weekly Low	1.2213
Previous Monthly High	1.2337
Previous Monthly Low	1.2037
Daily Fibonacci 38.2%	1.2543
Daily Fibonacci 61.8%	1.2522
Daily Pivot Point S1	1.249
Daily Pivot Point S2	1.2446
Daily Pivot Point S3	1.2403
Daily Pivot Point R1	1.2577
Daily Pivot Point R2	1.262
Daily Pivot Point R3	1.2664

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 breaches below 1.3500, two-day lows

GBP/USD faces renewed selling pressure, eroding the earlier advance and slipping back to the sub-1.3500 region on Wednesday. Cable’s loss of upside momentum follows the resurgence of the demand for the Greenback amid steady geopolitical tensions. Looking ahead, the British Pound is expected to remain under scrutiny in light of the release of UK GDP data on Thursday.

EUR/USD weakens to multi-day lows near 1.1520

EUR/USD makes a U-turn and trades with decent losses near 1.1520 following the closing bell on Wall Street on Wednesday. The US Dollar’s recovery post-US CPI data keeps the risk complex under pressure in a context where geopolitics takes centre stage once again. Moving forward, attention remains on US inflation with the release of Producer Prices alongside weekly Claims.

Gold clings to 100-day SMA, with upside risks intact

Gold is reverting to the $4,400 level in Asia on Thursday after facing rejection at $4,450 or fresh ten-week highs earlier in the session. Attention now turns to the US Producer Price Index data for more signs of cooling inflation, particularly after a mild US Consumer Price Index report.

Bitcoin faces thin liquidity and missing demand amid seller stress — Glassnode

Bitcoin (BTC) is showing signs of growing market exhaustion, with weakening liquidity and subdued demand leaving the market vulnerable to a sharp move, according to a Glassnode report on Wednesday. The firm stated that Bitcoin is trading between two important cost-basis levels as market activity has fallen to its lowest point since 2019.

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.