Pound Sterling Price News and Forecast: GBP/USD loses traction to around 1.3510 on Wednesday

FXStreet Team FXStreet

GBP/USD softens to near 1.3500 on weaker UK PMI data

The GBP/USD pair loses ground to near 1.3510 during the early European session on Wednesday. The Pound Sterling (GBP) weakens against the US Dollar (USD) on downbeat UK S&P Global Purchasing Managers’ Index (PMI) data for September. The Bank of England (BoE) External Member Megan Greece is set to speak later on Wednesday.

Economic activity in the UK's private sector expanded at a softer pace in September than in August, with the S&P Global Composite PMI declining to 51 from 53.5. This figure came in worse than the estimations of 52.7. Additionally, the Manufacturing PMI eased to 46.2 in September from the previous reading of 47.0, while the Services PMI fell to 51.9 during the same period from 54.2. Read more...

GBP/USD extends rebound despite miss in UK PMIs

GBP/USD extended into a second day of thin gains on Tuesday, rising from a messy technical bounce off the 50-day Exponential Moving Average (EMA) near 1.3500. UK Purchasing Managers Index (PMI) figures came in broadly lower than expected, but the Pound Sterling (GBP) still found gains after the US Dollar weakened across the board.

UK PMIs weakened much faster than expected in September, while US PMI figures for the same period also weakened, but stuck close to forecasts. General market sentiment remained on the high side, albeit shakily, and the UK side of the economic data docket is functionally wrapped up for the rest of the week. Read more...

GBP/USD steady at 1.3518 as PMIs signal slowdown, Powell speech eyed

The Pound Sterling (GBP) remains steady during the North American session on Tuesday after business activity on both sides of the Atlantic slows down in September, according to Flash Purchasing Managers Indices (PMI) reports in the UK and the US. GBP/USD trades at 1.3518, virtually unchanged.

The US Dollar (USD) seems to have found its feet as the US Dollar Index (DXY), which measures the buck’s value against a basket of six peers, is up 0.08% at 97.38. US Manufacturing PMI dipped to 52 from 53 in August. At the same time, the Services index fell from 54.5 to 53.9 in September. 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.