Pound Sterling Price News and Forecast: GBP/USD strengthens as US Dollar struggles after softer economic data

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Pound Sterling continues to extend gains amid the ongoing UK elections

The Pound Sterling (GBP) continues its winning streak, which began on June 27. The GBP/USD pair trades around 1.2750 during the Asian session on Thursday, which could be attributed to the softer data released from the United States (US) on Wednesday.

Markets are expected to closely monitor the UK general elections on Thursday. Britain appears poised to elect Labour Party leader Keir Starmer as its next prime minister, ousting Rishi Sunak's Conservatives after 14 often turbulent years. A forecast by polling company Survation, as reported by Reuters on Tuesday, predicts the Labour Party will win a record number of seats in the national election. Read more...

GBP/USD jumps higher on broad-market Greenback weakness

GBP/USD extended a near-term rebound on Wednesday, bolstered by a broad softening in US economic figures in the midweek market session. Thursday’s upcoming UK election will draw plenty of attention from Cable traders as US markets hunker down for the wait through Thursday’s market holiday.

US ADP Employment Change fell to 150K in June, down from the previous month’s 157K and missing the forecast increase to 160K. Looking deeper into the ADP’s report, many of the already-lower job additions were concentrated in lower-paying leisure and hospitality industries. 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.

AUD/USD eyes 0.7150 barrier nine-day EMA

AUD/USD inches higher after registering modest losses in the previous day, trading around 0.7130 during the Asian hours. The technical analysis of the daily chart indicates that the pair is moving sideways within the rectangle pattern, suggesting a consolidation as neither the bulls nor the bears have enough momentum to take control of the market.

USD/JPY trades below 160.00 intervention threshold; bullish bias intact

The USD/JPY pair attracts some sellers during the Asian session amid fears that authorities will step in again to prop up the Japanese Yen. Furthermore, the Israel-Lebanon truce prompts some profit-taking around the US Dollar and exerts downward pressure on the currency pair.

Gold extends rebound to $4,500 as US yields edge lower

Gold (XAU/USD) preserves its recovery momentum following Wednesday's slide and tests the $4,500 mark in the second half of the day on Thursday. While US-Iran uncertainty remains, easing tensions between Lebanon on Israel seems to be helping the market mood improve, causing the USD to lose strength alongside falling US T-bond yields and opening the door for a decisive rebound in XAU/USD.

Bitcoin’s massive storm is back: Why the sell-off is far from over

Bitcoin price action over the last few weeks has felt less like a normal, healthy correction and more like a slow grinding crash that continues to wreak havoc on holdings and trading accounts. And everything suggests that the dramatic crash isn’t over.

Nonfarm payrolls: Testing the limits of Fed policy patience

The upcoming nonfarm payrolls report for May will provide the final update on the US labor market before Kevin Warsh attends his first policy meeting as the new Fed Chair later this month.

Recession on paper: What really moves the Canadian Loonie now?

Statistics Canada handed the headline writers a gift and the analysts a headache. Real GDP shrank 0.1% on an annualized basis in the first quarter, and with the fourth quarter of 2025 revised down to a 1.0% contraction, that is two negative quarters in a row, the textbook definition of a technical recession and Canada's first since the pandemic.