Pound Sterling Price News and Forecast: GBP/USD tumbles as weak set of UK labor data boosts BoE dovish bets

EUR/USD is staying firmly supported and hovering near two-day highs around 1.1750 on Thursday, shaking off the mild pullback seen a day earlier. The pair is benefiting from a friendlier risk backdrop, underpinned by easing EU–US trade tensions and a softer Greenback. Moving forward, markets’ attention will be on the release of flash PMIs in Europe and the US on Friday.

GBP/USD is regaining momentum on Thursday and pushing up towards two-week highs around the 1.3500 mark. In the process, Cable is leaving Wednesday’s brief wobble behind and slipping back into its upward trend, helped by ongoing selling pressure on the Greenback ahead of key advanced PMI data on Friday.

Gold extends its impresive rally for yet another day on Thursday, this time surpassing the $4,900 mark per troy ounce to hit record highs on the back of the marked pullback in the US Dollar. The move is unfolding even as global risk appetite improves, after Donald Trump reversed course on Greenland, a shift that has helped cool broader geopolitical tensions.

Bitcoin rises marginally above $90,000, but intense ETF selling pressure continues to weigh on the asset. Ethereum trades around $3,000 amid broader crypto market volatility and waning institutional interest. XRP ticks up for the second consecutive day despite subdued retail demand.

What began as a sharp escalation risk quickly turned into a de-escalation signal. Earlier this week, markets briefly priced in escalation risk after Donald J. Trump proposed a 10% tariff hike on eight NATO nations amid the Greenland dispute.

Ripple (XRP) is consolidating above $1.90, a short-term support level, at the time of writing on Thursday. This mild uptick marks two consecutive days of a strengthening technical outlook, following recent market-wide volatility.