Pound Sterling Price News and Forecast: GBP/USD recovers some ground after hitting 1985’s lows

FXStreet Team FXStreet

GBP/USD recovers some ground after hitting 1985’s lows, ahead of next week's BoE/Fed decisions

The British pound trims its earlier losses against the greenback after hitting a 37-year low around 1.1350, and recovers the 1.1400 thresholds after registering weaker-than-estimated retail sales, fueled speculations of the UK’s tapping into a recession. At the time of writing, the GBP/USD is trading at 1.1395, below its opening price, by 0.62%. A risk-off impulse keeps most G8 currencies heavy. The greenback pared some earlier losses, as shown by the US Dollar Index, almost flat at around 109.704, yet still 0.04% down. US economic data released by the University of Michigan showed that US consumers remain slightly upbeat regarding the US economy. The Consumer Sentiment in September rose to 59.5, below estimates by a notch but better than the 58.6 achieved in August. Read more...

GBP/USD

Overview
Today last price	1.1412
Today Daily Change	-0.0054
Today Daily Change %	-0.47
Today daily open	1.1466

Trends
Daily SMA20	1.1634
Daily SMA50	1.1884
Daily SMA100	1.2118
Daily SMA200	1.2713

Levels
Previous Daily High	1.1556
Previous Daily Low	1.1462
Previous Weekly High	1.1648
Previous Weekly Low	1.1405
Previous Monthly High	1.2294
Previous Monthly Low	1.1599
Daily Fibonacci 38.2%	1.1498
Daily Fibonacci 61.8%	1.152
Daily Pivot Point S1	1.1433
Daily Pivot Point S2	1.14
Daily Pivot Point S3	1.1338
Daily Pivot Point R1	1.1527
Daily Pivot Point R2	1.1589
Daily Pivot Point R3	1.1622

GBP/USD Weekly Forecast: 21DMA keeps bears alive ahead of BOE, Fed

GBP/USD witnessed good two-way businesses in another volatile week, dominated by hawkish Fed expectations and a bunch of top-tier economic data from both sides of the Atlantic. Cable settled the week deep in the red below 1.1500, down nearly 200 pips, as traders look forward to critical policy decisions from the US Federal Reserve (Fed) and the Bank of England (BOE) due in the week ahead. Read more...

GBP/USD Forecast: A technical correction is pound's only hope

GBP/USD has extended its slide after having dropped below 1.1400 and touched its lowest level since 1985 at 1.1350. The risk-averse market environment is unlikely to allow the pair to shake off the bearish pressure but sellers could opt to book their profits ahead of the weekend, opening the door to a technical correction. The disappointing data from the UK caused the British pound to suffer heavy losses against its major rivals. The UK's Office for National Statistics reported that Retail Sales declined by 1.6% on a monthly basis in August following July's increase of 0.4%. This print came much worse than the market expectation for a decrease of 0.5%. Read more...

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FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

GBP/USD breaches below 1.3500, two-day lows

GBP/USD faces renewed selling pressure, eroding the earlier advance and slipping back to the sub-1.3500 region on Wednesday. Cable’s loss of upside momentum follows the resurgence of the demand for the Greenback amid steady geopolitical tensions. Looking ahead, the British Pound is expected to remain under scrutiny in light of the release of UK GDP data on Thursday.

EUR/USD weakens to multi-day lows near 1.1520

EUR/USD makes a U-turn and trades with decent losses near 1.1520 following the closing bell on Wall Street on Wednesday. The US Dollar’s recovery post-US CPI data keeps the risk complex under pressure in a context where geopolitics takes centre stage once again. Moving forward, attention remains on US inflation with the release of Producer Prices alongside weekly Claims.

Gold clings to 100-day SMA, with upside risks intact

Gold is reverting to the $4,400 level in Asia on Thursday after facing rejection at $4,450 or fresh ten-week highs earlier in the session. Attention now turns to the US Producer Price Index data for more signs of cooling inflation, particularly after a mild US Consumer Price Index report.

Bitcoin faces thin liquidity and missing demand amid seller stress — Glassnode

Bitcoin (BTC) is showing signs of growing market exhaustion, with weakening liquidity and subdued demand leaving the market vulnerable to a sharp move, according to a Glassnode report on Wednesday. The firm stated that Bitcoin is trading between two important cost-basis levels as market activity has fallen to its lowest point since 2019.

UK GDP expected to show moderate Q2 growth

The United Kingdom’s Office for National Statistics will release the preliminary estimate of the second-quarter Gross Domestic Product on Thursday. Market analysts anticipate a 0.4% growth in the three months to June, after a modest 0.6% advance in the first quarter of 2026. Annual progress is expected at 1.1%, up from the 0.9% posted in March.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.