Pound Sterling Price News and Forecast: GBP/USD holds ground ahead of PMI data releases

FXStreet Team FXStreet

GBP/USD trades below 1.2950 near 10-week lows, PMI figures awaited

The GBP/USD pair trades around 1.2930 during the Asian session on Thursday, staying near its 10-week low of 1.2907 reached on Wednesday. Traders are likely to focus on the Purchasing Managers Index (PMI) figures from both the United Kingdom (UK) and the United States (US), which are scheduled for release during the day.

During a discussion at the Institute of International Finance's annual membership meeting in Washington, D.C., on Wednesday, Bank of England Governor Andrew Bailey stated that inflation is currently below target due to annual base effects. Bailey noted that the high savings rate indicates consumer caution and added that pension funds should not be required to make compulsory allocations to UK assets. Read more...

GBP/USD skids into new ten-week low ahead of global PMI prints

GBP/USD shed another half of a percent on Wednesday, tipping into a fresh ten-week low and grinding down toward the 1.2900 handle. Purchasing Managers Index (PMI) figures from both the UK and the US are due on a rolling schedule throughout Thursday, and investors will be keeping an eye out for a slew of central banker appearances from both the Bank of England (BoE) and the Federal Reserve (Fed).

The Pound Sterling swooned on Wednesday, declining further as GBP markets buckle under the weight of a broad-market Greenback recovery and investors brace for an overall decline in UK PMI prints for October. 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 recovers to 1.1750 region as 2025 draws to a close

Following the bearish action seen in the European session on Wednesday, EUR/USD regains its traction and recovery to the 1.1750 region. Nevertheless, the pair's volatility remains low as trading conditions thin out on the last day of the year.

GBP/USD stays weak near 1.3450 on modest USD recovery

GBP/USD remains under modest beairsh pressure and fluctuates at around 1.3450 on Wednesday. The US Dollar finds fresh demand due to the end-of-the-year position adjustments, weighing on the pair amid the pre-New Year trading lull.

Gold retreats to $4,300 area, looks to post monthly gains

Gold stays on the back foot on the last day of 2025 and trades near $4,300, possibly pressured by profit-taking and position adjustments. Nevertheless, XAU/USD remains on track to post gains for December and extend its winning streak into a fifth consecutive month.

Bitcoin, Ethereum and XRP prepare for a potential New Year rebound

Bitcoin, Ethereum, and Ripple are holding steady on Wednesday after recording minor gains on the previous day. Technically, Bitcoin could extend gains within a triangle pattern while Ethereum and Ripple face critical overhead resistance.

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.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is. Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).