Pound Sterling Price News and Forecast: GBP/USD holds above 1.3700 mark

FXStreet Team FXStreet

GBP/USD Forecast: Powell to the rescue? Pound technicals and fundamentals point lower

When a currency cannot hold up when all others are in suspense – its weakness is exposed. GBP/USD has been on the back foot, struggling to hold onto 1.37 while investors are holding their breaths toward a critical event. Federal Reserve Chair Jerome Powell is set to provide signals about tapering the bank's bond-buying scheme in the virtual Jackson Hole speech.

There are several reasons for sterling's suffering. UK COVID-19 cases have extended their increase, topping 38,000 in Thursday's report. Reopening the economy has consequences. While the government is unlikely to undo "Freedom Day," consumers may remain shy of going out and about, thus slowing the economic recovery. Read more...

GBP/USD holds above 1.3700 mark, lacks follow-through ahead of Powell

The GBP/USD pair held on to its modest intraday gains, around the 1.3715-20 region through the mid-European session, albeit lacked any follow-through buying.

The pair attracted some dip-buying on the last day of the week and rallied nearly 40 pips from four-day lows, around the 1.3680 region amid a modest US dollar weakness. The underlying bullish sentiment undermined demand for the safe-haven greenback and assisted the GBP/USD pair to recover a part of the overnight retracement slide from over one-week lows. Read more...

GBP/USD to turn lower again towards key support zone at 1.3571/67 – Credit Suisse

The rebound in GBP/USD has been capped at a cluster of resistances including its 200-day average (DMA) at 1.3802. The subsequent completion of a bearish “reversal day” is expected to clear the way for a retest of key support at 1.3571/67, the Credit Suisse analyst team reports.

“We think the recent strength has been corrective only. Indeed, below support at 1.3693, GBP/USD has seen a minor top complete and we look for a fall back to the recent low and potential trend support at 1.3608/01.” Read more...

GBP/USD

Overview
Today last price	1.3725
Today Daily Change	0.0025
Today Daily Change %	0.18
Today daily open	1.37

Trends
Daily SMA20	1.3807
Daily SMA50	1.3822
Daily SMA100	1.3921
Daily SMA200	1.3801

Levels
Previous Daily High	1.3768
Previous Daily Low	1.3689
Previous Weekly High	1.3879
Previous Weekly Low	1.3602
Previous Monthly High	1.3984
Previous Monthly Low	1.3572
Daily Fibonacci 38.2%	1.3719
Daily Fibonacci 61.8%	1.3738
Daily Pivot Point S1	1.367
Daily Pivot Point S2	1.364
Daily Pivot Point S3	1.3591
Daily Pivot Point R1	1.3749
Daily Pivot Point R2	1.3798
Daily Pivot Point R3	1.3828

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 extends the drop to 1.3360

GBP/USD builds on Monday’s decline and briefly clinches five-day lows near 1.3360 on Tuesday. Cable’s extra pullback follows the better tone in the Greenback as uncertainty in the Middle East prompts investors to adopt a cautious stance. Meanwhile, an apathetic UK labour market report also collaborates with the selling pressure on the British Pound.

EUR/USD stays offered just above 1.1400

EUR/USD keeps the downtrend well in place for yet another day, challenging the 1.1400 contention zone on Tuesday. The continuation of the selling impulse in spot comes amid decent gains in the US Dollar, which continues to find support in the persistent effervescence surrounding the US-Iran crisis.

Middle East crisis intensifies, Gold up

Gold now seems to have embarked on a consolidative phase below the key $4,100 mark per troy ounce in the latter part of Tuesday’s session. Meanwhile, uncertainty surrounding the Middle East conflict and rising expectations for a hawkish Fed policy outlook are expected to limit the precious metal’s bullish momentum in the near term.

XRP rebounds on rising on-chain activity

Ripple (XRP) ticks up and trades around $1.13 at the time of writing on Tuesday. This rebound aligns with a broader recovery in the cryptocurrency market, attributed to reports that mediators between the United States (US) and Iran are seeking a 10-day cessation of strikes to find a way back to the signed Memorandum of Understanding (MoU).

The Iranian war has again risen

The Iranian war has again risen to the top of the economics factor list. There is no end in sight. Intelligence experts say the current level of offense/retaliation will not change minds in Tehran, while in Washington, Trump fears all-out war, which would mean boots on the ground.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.