Pound Sterling Price News and Forecast: GBP/USD drops amid strong US Dollar

FXStreet Team FXStreet

GBP/USD drops amid strong US Dollar, lower rate hike BoE’s expectations

GBP/USD continued to drop late in the North American session following upbeat data in the United Kingdom (UK), but the market turned south as news emerging from Japan strengthened the greenback, which appreciated against most G7 currencies. The GBP/USD trades at 1.2851, losing 0012%, after hitting a daily high of 1.2904. Read More...

Pound Sterling rebounds swiftly as upbeat Retail Sales offset inflation softening

The Pound Sterling (GBP) delivers a solid recovery near 1.2820 as the United Kingdom Retail Sales data turned out more resilient than expected. The GBP/USD pair rebounds swiftly as consumer spending growth expanded strongly in June. Monthly Retail Sales in June expanded by 0.7% vs. expectations of 0.2%. Annual consumer spending data contracted by 1.0% against the consensus of -1.5%. Read More...

GBP/USD faces strong support around 1.2780 – UOB

While extra downside in GBP/USD remains on the cards, there is a strong support around 1.2780 according to Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Read More...

GBP/USD

Overview
Today last price	1.286
Today Daily Change	-0.0007
Today Daily Change %	-0.05
Today daily open	1.2867

Trends
Daily SMA20	1.2837
Daily SMA50	1.265
Daily SMA100	1.25
Daily SMA200	1.2238

Levels
Previous Daily High	1.2965
Previous Daily Low	1.284
Previous Weekly High	1.3142
Previous Weekly Low	1.275
Previous Monthly High	1.2848
Previous Monthly Low	1.2369
Daily Fibonacci 38.2%	1.2888
Daily Fibonacci 61.8%	1.2917
Daily Pivot Point S1	1.2817
Daily Pivot Point S2	1.2766
Daily Pivot Point S3	1.2692
Daily Pivot Point R1	1.2941
Daily Pivot Point R2	1.3015
Daily Pivot Point R3	1.3066

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.

AUD/USD consolidates near 0.7000 as USD stays weak

AUD/USD holds steady above 0.7000 during Thursday’s Asian session, consolidating the previous day’s recovery gains from a near three-week low as the Democratic sweep in the US midterm elections and Iran diplomacy hopes continue to weigh on the US Dollar. Bulls, however, seem hesitant as focus shifts to Friday’s crucial US NFP report.

USD/JPY drifts lower to 158.25 on hawkish BoJ Minutes, weak USD

USD/JPY trades with a negative bias for the second straight day on Thursday as hawkish BoJ Minutes, showing members agreed to keep raising rates, and intervention risks support the Japanese Yen. Meanwhile, US midterm election results and hopes for Iran diplomacy keep the US Dollar depressed as focus shifts to Friday’s US NFP report.

Gold eases from two-week top; holds comfortably above $4,100

Gold retreats slightly from a two-week high touched during Thursday’s Asian session, albeit it clings to gains for the second straight day and currently trades around $4,130. The US Dollar extends the fallout from US election results, dropping to a fresh low since late September and assisting the commodity in building on the previous day's strong rally of over 3.5% – its biggest single-day rise since mid-August.

TRUMP token hits record low amid mounting selling pressure

Ripple and Stellar extend their recovery as bearish pressure begins to ease for both altcoins. XRP trades above $1.30 after breaking above the upper trendline of a falling channel pattern, while XLM holds above $0.168 and approaches resistance at $0.173. Meanwhile, improving derivatives metrics and strengthening momentum indicators hint at a potential for further recovery.

BoE expected to hike interest rate to 4.00%

The Bank of England is set to reveal its latest monetary policy decision on Thursday, coinciding with its seventh rate-setting meeting of 2026. Market analysts expect the ‘Old Lady’ to increase its policy rate by a quarter percentage point to 4.00%, the highest level since November 2025.

US Dollar breaks below 101.50 as Democrats sweep Congress

The US Dollar (USD) comes under heavy selling pressure on Wednesday, with the US Dollar Index (DXY) falling around 0.5% to trade near 101.35 after sliding below the 101.50 level. The Greenback retreats to its lowest level in four weeks as investors reassess the political and economic outlook following the Democratic Party's sweeping victory in the United States (US) midterm elections.