Pound Sterling Price News and Forecast: GBP/USD declines despite Bailey hawkish comments

FXStreet Team FXStreet

GBP/USD retreats from 1.3760 to 1.3710 despite increasing bets of a BoE’s hike rate

The British pound is sliding during the New York session, down some 0.23%, is trading at 1.3712 at the 2time of writing. Surging energy prices, higher inflationary pressures witnessed on the last CPI readings in developed country’s economies, and central banks tightening monetary policy dented the market sentiment.

GBP/USD

Overview
Today last price	1.3745
Today Daily Change	0.0018
Today Daily Change %	0.13
Today daily open	1.3727

Trends
Daily SMA20	1.3621
Daily SMA50	1.3716
Daily SMA100	1.3815
Daily SMA200	1.3847

Levels
Previous Daily High	1.3766
Previous Daily Low	1.3709
Previous Weekly High	1.3773
Previous Weekly Low	1.3568
Previous Monthly High	1.3913
Previous Monthly Low	1.3412
Daily Fibonacci 38.2%	1.3731
Daily Fibonacci 61.8%	1.3744
Daily Pivot Point S1	1.3702
Daily Pivot Point S2	1.3678
Daily Pivot Point S3	1.3646
Daily Pivot Point R1	1.3759
Daily Pivot Point R2	1.379
Daily Pivot Point R3	1.3815

Bank of England goes nuclear on rates, but the pound doesn’t follow suit

The major news at the start of this week is that the Bank of England are now expected to be the first of the major central banks to hike interest rates, after BOE Governor, Andrew Bailey, said on Sunday that a surge in energy prices would have a longer-lasting effect on inflation, which raises the chances of “embedded expectations”, which is why he was using his platform to signal that the Bank of England “will have to act”.

EUR/USD rises to 1.1800 neighborhood amid renewed USD selling and trade uncertainties

The EUR/USD pair regains positive traction during the Asian session on Wednesday and jumps to the 1.1800 neighborhood in the last hour, reversing the previous day's modest losses. The intraday move up is sponsored by the emergence of fresh US Dollar, which continues to be weighed down by persistent trade-related uncertainties.

GBP/USD regains 1.3500 and above

GBP/USD extends its advance for the third day in a row on Tuesday, this time retesting the area beyond the 1.3500 hurdle. Cable’s uptick comes despite decent gains in the Greenback and the dovish message from the BoE’s Bailey at the UK Parliament.

Gold stays firm above $5,150 as Trump's delivers State of the Union speech

Gold finds fresh demand and regains the $5,150 level following the previous day's pullback from the monthly peak as traders assess Trump's State of the Union address. Trade-related uncertainties and geopolitical risks seem to act as a tailwind for the safe-haven bullion.

Bitcoin, Ethereum and Ripple post cautious recovery amid downside risks

Bitcoin, Ethereum, and Ripple are posting a cautious recovery on Wednesday following a market correction earlier this week. BTC is approaching a key breakdown level, while ETH and XRP are rebounding from crucial support levels.

The Citrini report: How a debatable AI narrative can shake Wall Street

That AI-related headline alone was enough to rattle investors.US stocks slid sharply on Monday after a widely circulated Citrini Research memo outlined a hypothetical “2028 Global Intelligence Crisis”, warning that rapid AI adoption could push US unemployment into double digits as early as by mid-2028.

XRP pressured by weak ETF flows and declining retail interest

Ripple (XRP) is edging lower, trading above its intraday low of $1.32 at the time of writing on Tuesday. The decline from its weekly opening of $1.39 reflects heightened volatility in the broader cryptocurrency market, accentuated by tariff-triggered uncertainty.