Pound Sterling Price News and Forecast: GBP/USD Elliott Wave technical analysis [Video]

FXStreet Team FXStreet

GBP/USD Elliott Wave technical analysis [Video]

The Elliott Wave analysis for the GBPUSD daily chart reflects a bullish trend, indicating upward market movement. The current price action is in an impulsive mode, which signals sustained upward momentum in line with the broader market trend. The wave being monitored is Gray Wave 3, a significant wave in Elliott Wave theory, usually associated with strong upward movement within the trend.

Currently, the market is in Orange Wave 3, which is part of the larger impulsive structure of Gray Wave 3. This suggests that the price is in a phase where sustained upward momentum is expected, aligning with the overall bullish framework. Read more...

GBP/USD Forecast: Pound Sterling could face next resistance near 1.3350

Following Thursday's volatile action, GBP/USD gathers bullish momentum and trades at its highest level since March 2022 above 1.3300 in the European morning on Friday. The pair's near-term technical outlook points to overbought conditions.

The Bank of England (BoE) announced on Thursday that it left the policy rate unchanged after the September meeting, as expected. In a hawkish surprise, only one policymaker voted in favor of a 25 basis points rate cut. Speaking later in the day, BoE Governor Andrew Bailey said that he is optimistic that interest rates in the UK will fall but added that they need to see more evidence of residual inflation pressure disappearing. Although GBP/USD retreated slightly after the BoE event, it closed in positive territory on Friday. 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 retreats from one-week top as USD firms; 1.3300 holds the key

The GBP/USD pair attracts some sellers during the Asians session, and reverses a part of the previous day's strong move up to a one-week top. Spot prices for now seem to have snapped a three-day winning streak and currently trade around the 1.3235-1.3230 region, down nearly 0.20% for the day.

EUR/USD looks to extend intraday descent below 1.1400

The EUR/USD pair attracts some sellers during the Asian session on Tuesday, snapping a three-day winning streak and stalling its recent recovery from the lowest level since May 2025 set last week. Spot prices slip below the 1.1400 mark amid a firmer US Dollar and seem vulnerable to weaken further.

Gold recovers slightly from YTD low; not out of the woods yet

Gold recovers slightly from its lowest level since November 2025, touched during the Asian session, albeit it sticks to a negative bias for the second straight day. Against the backdrop of renewed Mideast tensions, mixed signals on US-Iran talks assist the US Dollar to attract some dip-buyers and stall its recent pullback from the highest level since May 2025.

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.

Just like Fed, is BoJ’s independence under threat?

When talking about central bank independence, most of the focus has been on Donald Trump’s pressure on the Federal Reserve. But a similar story, a quieter one for now, seems to be happening on the other side of the Pacific: Japan’s government may be testing the Bank of Japan’s independence.

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.