Pound Sterling Price News and Forecast: GBP/USD roller coaster part of wave 4 pullback in uptrend

FXStreet Team FXStreet

GBP/USD Analysis: Profit-taking kicks in as Brexit deal optimism fades

The GBP/USD pair witnessed a dramatic intraday turnaround on the first day of a new trading week and tumbled around 150 pips from daily swing highs, near the 1.3575 region. The euphoria over a post-Brexit trade deal faded rather quickly as investors flagged concerns about the exclusion of the crucial services sector from the accord. This, coupled with a goodish US dollar rebound, exerted some additional pressure and contributed to the steep intraday fall.

Relief over the long-awaited US stimulus triggered a fresh wave of the global risk-on trade and pushed the US Treasury bond yields higher across the board. This, in turn, was seen as a key factor that helped revive the USD demand. It is worth reporting that the US President Donald Trump signed a $2.3 trillion pandemic aid and spending package on Sunday, restoring unemployment benefits to millions of Americans and averting a partial federal government shutdown that would have started on Tuesday. Read more...

GBP/USD roller coaster part of wave 4 pullback in uptrend

The GBP/USD is creating an increased price volatility between 1.3205 support and 1.35 resistance zones. That said, price action remains in a solid uptrend when comparing the moving averages (21 ema above 144 ema above 610).

The GBP/USD is building a bullish 5 wave pattern (purple) after a long-term downtrend. The wave 5 could complete a larger wave A (blue) of an ABC (blue). Read more...

GBP/USD climbs further beyond 1.3500 mark, fresh session tops

The GBP/USD pair added to its intraday gains and climbed further beyond the key 1.3500 psychological mark during the early part of the European session.

Following the previous session's sharp intraday pullback of around 150 pips, the pair caught some fresh bids on Tuesday and was being supported by the emergence of some fresh US dollar selling. The already upbeat market mood got an additional boost after the lawmakers pushed forward with an enhanced COVID-19 relief package. Read more...

GBP/USD

Overview
Today last price	1.3491
Today Daily Change	0.0052
Today Daily Change %	0.39
Today daily open	1.3439

Trends
Daily SMA20	1.3426
Daily SMA50	1.3263
Daily SMA100	1.3139
Daily SMA200	1.2822

Levels
Previous Daily High	1.3576
Previous Daily Low	1.343
Previous Weekly High	1.362
Previous Weekly Low	1.3188
Previous Monthly High	1.3398
Previous Monthly Low	1.2854
Daily Fibonacci 38.2%	1.3485
Daily Fibonacci 61.8%	1.352
Daily Pivot Point S1	1.3387
Daily Pivot Point S2	1.3335
Daily Pivot Point S3	1.3241
Daily Pivot Point R1	1.3534
Daily Pivot Point R2	1.3628
Daily Pivot Point R3	1.368

Author

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 stays below 1.3400 after soft UK CPI data

GBP/USD struggles to gain traction and stays below 1.3400 in the second half of the day on Wednesday. The UK annual Consumer Price Index (CPI) inflation cooled to 2.6% in June against the market forecast of 2.7%, making it difficult for the British Pound gather recovery momentum. Meanwhile, investors keep a close eye on headlines coming out of the Middle East.

EUR/USD stabilizes near 1.1400 as markets focus on geopolitics

EUR/USD trades in a narrow channel at around 1.1400 on Wednesday. In the absence of high-impact data releases, escalating geopolitical tensions in the Middle East caps the pair's upside. On Thursday, the European Central Bank (ECB) will announce monetary policy decisions.

Gold extends rally as Middle East concerns intensify

Gold extends gains for the fourth consecutive day, standing comfortably above $4,100, unfazed by the risk-off market amid rising tensions in Iran and higher Oil prices. The pair has rallied nearly 2.5% so far this week and is on track for its best weekly performance in more than three months.

XRP consolidates as inflows and volume climb

Ripple (XRP) retains a slightly bullish outlook on Wednesday despite logging a minor correction from the supply range near $1.15. The remittance token is down 0.5% on the day, reflecting a broader cryptocurrency market drawdown, primarily driven by persistent geopolitical tensions between the United States (US) and Iran in the Middle East.

US – Fed preview: A divided hold

The first month after Kevin Warsh's debut at the FOMC's June meeting has brought mixed signals on the inflation front. On one hand, the re-escalation of the war in Iran has lifted energy prices higher again. Yet on the other hand, Warsh's hawkish comments have already lifted real rates, supported broad USD and tightened financial conditions while realized inflation surprised to the downside in June.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.