Pound Sterling Price News and Forecast: GBP/USD faces pressure

FXStreet Team FXStreet

Pound Sterling faces pressure as soft UK labor market data paves way for BoE rate cuts

The Pound Sterling (GBP) trades with caution against its peers on Tuesday after the release of the United Kingdom (UK) labor market data for the three months ending March. The Office for National Statistics (ONS) reported that the ILO Unemployment Rate accelerated to 4.5%, as expected, from 4.4% in the three months ending February. In the same period, the economy added 112K fresh workers, significantly lower than the prior release of 206K.

Slowing UK job growth reflects the impact of the increase in employers’ contribution to social security schemes and caution among business owners in anticipation of tariffs by United States (US) President Donald Trump. The report didn’t capture any effects from the tariff reduction agreement between the US and the UK, as it was announced way after the collection of the data. Read more...

GBP/USD Forecast: Pound Sterling recovery could remain limited, eyes on US CPI

GBP/USD gains traction and trades in positive territory above 1.3200 in the European session on Tuesday, as markets adopt a cautious stance ahead of the key April inflation data from the US.

GBP/USD turned south in the European morning on Monday as the US Dollar (USD) gathered strength against its rivals. Following the first round of official talks in Switzerland, the US and China reached an agreement to pause and lower reciprocal tariffs, easing fears over a deepening trade conflict and boosting the USD. Read more...

Author

FXStreet Team

FXStreet

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD moves sideways below 1.1800 on Christmas Eve

EUR/USD struggles to find direction and trades in a narrow channel below 1.1800 after posting gains for two consecutive days. Bond and stock markets in the US will open at the usual time and close early on Christmas Eve, allowing the trading action to remain subdued.

GBP/USD keeps range around 1.3500 amid quiet markets

GBP/USD keeps its range trade intact at around 1.3500 on Wednesday. The Pound Sterling holds the upper hand over the US Dollar amid pre-Christmas light trading as traders move to the sidelines heading into the holiday season.

Gold retreats from record highs, trades below $4,500

Gold retreats after setting a new record-high above $4,520 earlier in the day and trades in a tight range below $4,500 as trading volumes thin out ahead of the Christmas break. The US Dollar selling bias remains unabated on the back of dovish Fed expectations, which continues to act as a tailwind for the bullion amid persistent geopolitical risks.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.