Pound Sterling Price News and Forecast: GBP/USD rebounds ahead of US Retail Sales

FXStreet Team FXStreet

Pound Sterling rebounds ahead of US Retail Sales, Trump-Putin meet

The Pound Sterling (GBP) recovers to near 1.3560 against the US Dollar (USD) on Friday, paring back some of the losses seen on Thursday, when the US Dollar (USD) bounced back strongly after the United States (US) Producer Price Index (PPI) report for July showed that wholesale prices rose at the strongest pace in three years.

During the press time, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, falls back to near 97.70 after a recovery move on Thursday to near 98.30. Read more...

GBP/USD Forecast: Pound Sterling holds bullish bias after pullback

GBP/USD finds support and trades marginally higher on the day near 1.3550 after posting losses on Thursday. As markets await the next batch of macroeconomic data releases from the US, the pair's near-term technical outlook suggests that the bullish bias remains intact.

Market participants refrained from continuing to price in three 25 basis points (bps) Federal Reserve rate cuts in 2025 following the hot producer inflation data from the US, helping the US Dollar (USD) gather strength and forcing GBP/USD to stay on the back foot on Thursday. Read more...

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