Pound Sterling Price News and Forecast: GBP/USD stays depressed at the lowest levels in seven week

FXStreet Team FXStreet

GBP/USD stays pressured towards 1.2300 ahead of UK Retail Sales, Fed’s favorite inflation

GBP/USD bears take a breather at the lowest levels since early April, making rounds to 1.2320-25 after falling in the last four consecutive days. In doing so, the Cable pair bears the burden of the upbeat US data, hawkish Federal Reserve bets and the market’s rush towards US Dollar amid the looming US default. That said, the hawkish comments from the Bank of England (BoE) officials fail to inspire the Cable pair buyers ahead of today’s UK Retail Sales and a slew of the US data.

On Thursday, the second estimation of the US Annualized Gross Domestic Product (GDP) for Q1 2023 was revised up to 1.3% versus 1.0% first forecasts. Further, the Chicago Fed National Activity Index for April improved to 0.07 from -0.37 prior and -0.02 market estimations. On the same line, Kansad Fed Manufacturing Activity improved to -2 for May compared to -21 previous readings and analysts’ estimations of -11. It’s worth noting that the US Pending Home Sales for April improved on YoY but eased on MoM whereas Core Personal Consumption Expenditures also rose to 5.0% during the preliminary readings versus 4.9% prior. Read more...

GBP/USD Price Analysis: Bears attack adjacent support near 1.2300, UK Retail Sales eyed

GBP/USD remains on the back foot at a two-month bottom as sellers prod a short-term support line ahead of the key UK Retail Sales data on early Friday. In doing so, the Pound Sterling struggles to extend the three-day losing streak around 1.2320-15 by the press time.

That said, the UK Retail Sales for April, expected 0.3% MoM versus -0.9% prior, can join the aforementioned two-week-old support line and nearly oversold RSI (14) line to challenge the Cable pair sellers. 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 retreats toward 1.1700 on modest USD recovery

EUR/USD stays under mild bearish pressure and trades below 1.1750 on Friday. Although trading conditions remain thin following the New Year holiday and ahead of the weekend, the modest recovery seen in the US Dollar causes the pair to edge lower. The economic calendar will not feature any high-impact data releases.

GBP/USD struggles to gain traction, stabilizes near 1.3450

After testing 1.3400 on the last day of 2025, GBP/USD managed to stage a rebound. Nevertheless, the pair finds it difficult to gather momentum and trades marginally lower on the day at around 1.3450 as market participants remain in holiday mood.

Gold climbs toward $4,400 following deep correction

Gold advances toward $4,400 and gains more than 1.5% on the day after suffering heavy losses amid profit-taking heading into the end of the year. Growing expectations for a dovish Fed policy and persistent geopolitical risks seem to be helping XAU/USD stretch higher.

Cardano gains early New Year momentum, bulls target falling wedge breakout

Cardano kicks off the New Year on a positive note and is extending gains, trading above $0.36 at the time of writing on Friday. Improving on-chain and derivatives data point to growing bullish interest, while the technical outlook keeps an upside breakout in focus.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is. Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).