Pound Sterling Price News and Forecast: GBP/USD retreats but clings to bullish stance [Video]

FXStreet Team FXStreet

GBP/USD Forecast: Pound Sterling retreats but clings to bullish stance

After rising to a fresh multi-month high near 1.2970 on Tuesday, GBP/USD corrects lower and trades below 1.2950 in the European session on Wednesday. The positive shift seen in risk mood, however, could help the pair hold its ground in the near term.

The Trump administration's global 25% tariffs on steel and aluminum imports went into effect on Wednesday. Following this development, UK Trade Minister Jonathan Reynolds said they are negotiating a wider economic agreement to eliminate additional tariffs. "We will keep all options on the table and won't hesitate to respond in the national interest," Reynolds added. Read more...

GBP/USD extending higher in wave five impulse [Video]

Short term Elliott Wave view in GBP/USD suggests cycle from 2.3.2025 low is in progress as an impulse. Up from 2.3.2025 low, wave ((i)) ended at 1.2679 s the 1 hour chart below shows. Wave ((ii)) pullback unfolded as an expanded Flat Elliott Wave structure. Down from wave ((i)), wave (a) ended at 1.2603 and wave (b) ended at 1.2716. Wave (c) lower ended at 1.2557 which completed wave ((ii)) in higher degree. Up from there, wave (i) ended at 1.2614 and wave (ii) ended at 1.258. Wave (iii ) higher ended at 1.292 and wave (iv) ended at 1.286. Wave (v) ended at 1.294 which completed wave ((iii)). 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 tests 1.1800, closes in on a fresh two-month high

EUR/USD extends its gains for the second consecutive day on Tuesday and trades near 1.1800. The broad-based US Dollar weakness and a potential policy divergence between the European Central Bank and the Federal Reserve keep the bullish bias intact heading into the holiday season.

GBP/USD climbs above 1.3500 area, renews 11-week peak

GBP/USD extends its weekly rally and trades at its highest level since early October above 1.3500. The US Dollar remains under persistent bearish pressure heading into the Christmas break, while Pound traders largely brush off the latest interest rate cut from the Bank of England.

Gold approaches $4,500 as record-setting rally continues

Gold builds on Monday's impressive gains and advances toward $4,500, setting fresh record-highs along the way. Heightened geopolitical tensions, combined with the ongoing US Dollar (USD) selloff ahead of the Q3 GDP data, help XAU/USD preserve its bullish momentum.

Crypto Today: Bitcoin, Ethereum, XRP decline as risk-off sentiment escalates

Bitcoin remains under pressure, trading above the $87,000 support at the time of writing on Tuesday. Selling pressure has continued to weigh on the broader cryptocurrency market since Monday, triggering declines across altcoins, including Ethereum and Ripple.

Ten questions that matter going into 2026

2026 may be less about a neat “base case” and more about a regime shift—the market can reprice what matters most (growth, inflation, fiscal, geopolitics, concentration). The biggest trap is false comfort: the same trades can look defensive… right up until they become crowded.

XRP steadies above $1.90 support as fund inflows and retail demand rise

Ripple (XRP) is stable above support at $1.90 at the time of writing on Monday, after several attempts to break above the $2.00 hurdle failed to materialize last week. Meanwhile, institutional interest in the cross-border remittance token has remained steady.