Pound Sterling Price News and Forecast: GBP/USD is recording decent gains after nosediving to 1985

FXStreet Team FXStreet

GBP/USD Price Analysis: Rebounds at 37-year lows, reclaims the 1.1500 figure

The GBP/USD refreshed a 37-year low but bounced off and reclaimed the 1.1500 figure after meandering around the 1.1400 round figure during the day. The GBP/USD recovered some ground and settled at current exchange rates, trading at 1.1531, above its opening price by 0.18%, at the time of writing.

Chart of the day: GBP/USD

Cable edged higher in Asian / European trading on Tuesday, boosted by cautious optimism that new UK Prime Minister Liz Truss will manage handle deepening crisis, though market will look for a much more evidence about the action the new government will take. The key problem that Truss face will be to cap energy costs, as soaring prices strongly hit UK households, by sharply rising cost of living.

GBP/USD nudges higher above 1.3350 despite Middle East turmoil

The GBP/USD pair rebounds to near 1.3385 during the Asian trading hours on Thursday. However, the potential upside for the major pair might be limited amid cooler-than-expected UK inflation data and escalating tensions in the Middle East. Traders will take more cues from the UK Retail Sales report, which is due later on Friday.

EUR/USD advances ahead of ECB policy decision

EUR/USD extends its gains for the second consecutive day, trading around 1.1410 during the Asian hours on Thursday. The pair gains ground as the Euro finds solid support ahead of the European Central Bank's upcoming interest rate decision.

Gold is at a critical juncture as Middle East conflict widens

Gold snaps a four-day recovery early Thursday as widening Mideast conflict-led rallying Oil prices spur inflation fears. The US Dollar stays defensive amid potential USD/JPY sell-off, as ‘Yenternvention’ risks loom. Gold at a crossroads, awaiting Bear Cross confirmation on the daily chart, as RSI flirts with 50.

Australia unemployment rate set to steady at 4.4% in June, signaling strong job market

Australia will publish the June monthly employment report on Thursday at 01:30 GMT, and market participants expect a modest increase in job creation in the land Down Under. The Australian Bureau of Statistics is expected to announce that the country added 15K new jobs in the month, while the Unemployment Rate is forecast at 4.4%, unchanged from May.

Ripple and Stellar await direction amid cautious sentiment

Ripple and Stellar trade cautiously as both tokens hover around key technical levels. XRP is testing resistance at its 50-day EMA, while XLM continues to consolidate around the $0.187 support zone. Meanwhile, mixed derivatives data with a slight bearish tilt suggests traders remain cautious, keeping the next directional move uncertain.

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.