Pound Sterling Price News and Forecast: GBP/USD may face initial resistance at 1.3869

FXStreet Team FXStreet

GBP/USD Price Forecast: Steadies above 1.3700 near nine-day EMA support

GBP/USD steadies after registering modest gains in the previous session, trading around 1.3700 during the Asian hours on Wednesday. The technical analysis of the daily chart points to a potential bearish reversal as the range narrows, indicating waning buyer momentum within a rising wedge pattern.

The nine-day Exponential Moving Average (EMA) at 1.3678 rises above the 50-day EMA at 1.3493, with price holding above both. Both averages slope higher, reinforcing trend strength. The momentum indicator 14-day Relative Strength Index (RSI) at 61.75 stays above the 50 mid-line without overbought readings, confirming bullish momentum. Read more...

GBP/USD consolidates ahead of Bank of England rate decision

The Pound Sterling (GBP) traded in a narrow range against the US Dollar (USD) on Tuesday, edging modestly higher to near 1.3700 as markets adopted a cautious stance ahead of the Bank of England's (BoE) first policy decision of 2026. GBP/USD opened the session at 1.3665 and touched an intraday high near 1.3707, with the pair consolidating below the multi-year high of 1.3869 posted in late January.

The BoE is widely expected to leave its Bank Rate unchanged at 3.75% when the Monetary Policy Committee (MPC) delivers its verdict on Thursday. Market pricing shows only a 4% probability of a rate cut at this meeting, with the next reduction now penciled in for April at the earliest. December's decision to cut rates was narrowly split at 5-4, and Governor Andrew Bailey has cautioned that future cuts will become "a closer call" as rates approach neutral levels. Read more...

GBP/USD holds in a tight range as thin data keeps trading subdued

The British Pound (GBP) trades in a tight range against the US Dollar (USD) on Tuesday, with GBP/USD struggling to find direction as a thin economic calendar in both the United States (US) and the United Kingdom (UK) keeps price action subdued. At the time of writing, the pair is consolidating near 1.3690, pausing a two-day losing streak.

A steady US Dollar is capping upside attempts in GBP/USD. The Greenback staged a sharp rebound from four-year lows after markets welcomed US President Donald Trump’s nomination of former Federal Reserve (Fed) Governor Kevin Warsh as the next Fed Chair. Read more...

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EUR/USD weakens to near 1.1900 as traders eye US data

The EUR/USD pair loses ground to around 1.1905, snapping the two-day winning streak during the early European trading hours on Tuesday. Markets might turn cautious ahead of the release of key US economic data, including US employment and inflation reports that were pushed back slightly due to the recently ended four-day government shutdown.

GBP/USD edges lower below 1.3700 on UK political risks, BoE rate cut bets

The GBP/USD pair trades on a weaker note around 1.3685 during the European session on Tuesday. The Pound Sterling edges lower against the US Dollar amid political risk in the United Kingdom and rising expectations of near-term Bank of England rate cuts.

Gold drifts lower as positive risk tone tempers safe-haven demand; downside seems limited

Gold drifts lower during the Asian session on Tuesday and snaps a two-day winning streak, though it lacks strong follow-through selling and shows some resilience below the $5,000 psychological mark amid mixed cues. The outcome of Japan's snap election on Sunday removes political uncertainty, which, along with signs of easing tensions in the Middle East, remains supportive of the upbeat market mood.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.

Follow the money, what USD/JPY in Tokyo is really telling you

Over the past two Tokyo sessions, this has not been a rate story. Not even close. Interest rate differentials have been spectators, not drivers. What has moved USD/JPY in local hours has been flow and flow alone.

Bitcoin Cash trades lower, risks dead-cat bounce amid bearish signals

Bitcoin Cash (BCH) trades in the red below $522 at the time of writing on Tuesday, after multiple rejections at key resistance. BCH’s derivatives and on-chain indicators point to growing bearish sentiment and raise the risk of a dead-cat bounce toward lower support levels.