Pound Sterling Price News and Forecast: GBP/USD climbs to near 1.3000 ahead of Jackshon Hole event

FXStreet Team FXStreet

Pound Sterling climbs to near 1.3000 ahead of Jackshon Hole event

The Pound Sterling (GBP) exhibits a strong performance against its major peers in the European trading hours on Tuesday. The British currency trades firm on expectations that the policy-easing cycle from the Bank of England (BoE) will be slower than that of other central banks.

Despite a sharp slowdown in price pressures in the UK’s service sector, a closely watched inflation gauge by BoE policymakers, the drop is still insufficient to compel officials to cut interest rates aggressively. Services inflation decelerated to 5.2% in July from 5.7% in June. However, easing services inflation has opened doors for BoE sequential interest rate cuts. Currently, markets have attached a 37% probability of such action, Reuters reported. Read more...

GBP/USD Forecast: Pound Sterling could correct lower if sellers defend 1.3000

GBP/USD closed the third consecutive trading day in positive territory on Monday and continued to stretch higher early Tuesday, reaching its highest level since mid-July above 1.3000. The near-term technical outlook shows that the pair remains overbought in the near term.

The improving risk mood made it difficult for the US Dollar (USD) to find demand on Monday and allowed GBP/USD to build on the previous week's gains. Early Tuesday, US stock index futures trade marginally higher on the day. In the absence of high-tier macroeconomic data releases that could impact the USD's valuation, the risk perception could continue to drive GBP/USD's action. A bullish opening in Wall Street, followed by another leg higher in major equity indexes, could help the pair hold its ground in the second half of the day. Read more...

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 stays weak near 1.3250 on resurgent USD demand

GBP/USD stays weak near 1.3250 in European trading on Tuesday, reversing a part of the previous day's advance to a one-week high. The pair ditches a three-day winning streak, undermined by the USD/JPY upsurge-led broad US Dollar rebound. US jobs data in next in focus.

EUR/USD stays below 1.1400 after soft German inflation data

EUR/USD stays on the back foot and trades in negative territory below 1.1400 on Tuesday, looking to snap a three-day winning streak amid a firmer US Dollar. Softer-than-expected June inflation readings from Germany make it even more difficult for the Euro to stay resilient against the USD.

Gold rebounds after hitting fresh 2026-low, trades above $4,000

Gold (XAU/USD) builds on its intraday recovery from the lowest level since November 2025, touched below $3,950 earlier this Tuesday, and trades marginally higher on the day above $4,000. Any meaningful appreciation still seems elusive in the wake of a broadly firmer US Dollar. Against the backdrop of renewed Mideast tensions, mixed signals on US-Iran talks assist the USD and limit XAU/USD's upside.

Ripple defends critical support, Stellar extends recovery

Ripple (XRP) trades around the key $1.00 psychological level, consolidating as the token awaits its next directional catalyst. Stellar (XLM) extends its recovery above $0.178 after posting modest gains at the start of this week.

US JOLTS Job Openings expected to show strong labor demand, endorsing Fed rate hike bets

The US Bureau of Labor Statistics will release the Job Openings and Labor Turnover Survey for May on Tuesday at 14:00 GMT. Job openings are expected to come in at 7.3 million in May.

Kevin Warsh isn't expected to say much in Sintra: That's exactly why markets will listen

Financial markets could find an important catalyst in the enchanting, fairytale-like landscape of Sintra this week. The ECB Forum will, as it does every year, gather the crème de la crème of central banks. The new boss at the Fed, who has clearly said that the Fed should stop explaining everything, will need to talk – and traders should listen.