Pound Sterling Price News and Forecast: GBP/USD steadies awaiting preliminary Q1 UK GDP

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British Pound hovers ahead of UK GDP data, awaits Trump-Xi meeting updates

GBP/USD holds ground following three days of losses, trading around 1.3520 during the Asian hours on Thursday. Traders await the preliminary UK Gross Domestic Product (GDP) for the first quarter of 2026, along with Industrial and Manufacturing Production data due later in the day.

The GBP/USD pair holds ground as the US Dollar (USD) remains firm on market caution as traders await further updates amid the ongoing meeting between US President Donald Trump and Chinese President Xi Jinping in Beijing. Traders will also shift their focus to the US Retail Sales report for April due later in the day. Read more...

Pound Sterling reverses intraday gains as US PPI and UK political risk weighs

GBP/USD ended Wednesday little changed on a net basis, though the session included a sharp intraday swing of around 65 pips. The pair climbed through London hours before an aggressive reversal into the US session pressed it to the day's low; a recovery through the New York afternoon left price near the opening level, extending the pullback from last week's multi-week highs.

Political uncertainty in the United Kingdom continued to pressure Pound Sterling, with more than 80 Labour members of parliament having called for Prime Minister Keir Starmer to step down following the party's poor local election results. Investors are concerned that a leadership change could lead to looser fiscal policy to regain voter support, adding to the United Kingdom's already elevated borrowing pressures; the International Monetary Fund (IMF) recently cut its UK growth forecast for 2026 from 1.3% to 0.8%. Thursday's first-quarter gross domestic product (GDP) release is the key upcoming event for Pound Sterling, with the data likely to sharpen market views on the fiscal and monetary policy outlook into the second half of the year. Read more...

British Pound falls as hot PPI, Starmer turmoil lift US Dollar

The British Pound (GBP) posts a 0.19% loss against the US Dollar (USD) on Wednesday in back-to-back bearish days after a red-hot US inflation report, amid mounting pressure on UK Prime Minister Keir Starmer to resign. The GBP/USD pair trades at 1.3513 after hitting a low of 1.3484 earlier in the day.

Inflation continues to grab the headlines. High energy prices, due to stalled negotiations between the US and Iran to resolve the conflict, keep Oil prices above $100. Hence, central banks are positioning to hold interest rates higher for longer, prompting traders to buy the Greenback. Read more...

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FXStreet Team

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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 hits multi-week tops around 1.3560

GBP/USD gathers fresh steam and advances to new three-month peaks near the 1.3560 zone on Friday. Cable’s sharp move higher comes after three daily drops in a row and follows the increasing selling pressure hurting the Greenback.

EUR/USD pops to fresh two-month highs, targets 1.1600

EUR/USD advances markedly, revisiting the upper 1.1500s for the first time since mid-June. The pair’s sharp uptick comes on the back of a strong retracement in the US Dollar amid BoJ intervention chatter and despite steady uncertainty in the Middle East.

Gold picks up pace, approaches $4,400

Gold rebounds toward the $4,400 mark per troy ounce on Friday, reversing the previous day’s pullback. The precious metal’s recovery comes as fresh and intense weakness keep weighing on the US Dollar, while traders keep assessing easing expectations of an imminent Fed interest rate hike and the situation from the Middle East.

Pi Network Price Forecast: PI extends consolidation as bulls eye $0.10

Pi Network (PI) price holds steady on Friday, maintaining a consolidating tone for three consecutive days. Mild retail strength in the PI token remains stable, with Open Interest above $9 million, while social buzz eases. PI token’s technical outlook is mixed, as bearish momentum wanes to neutral, with bulls eyeing the $0.1000 psychological level.

Weekly focus: Some relief in US inflation concerns

Actual inflation data for July came out as expected with a 0.1% m/m increase in headline CPI and 0.2% excluding food and energy. Annual headline inflation remains too high at 3.4% and means that wage earners are experiencing stagnating spending power at best, and core inflation is a bit higher than the inflation target of two percent would suggest.

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.