GBPUSD also managed to drop past the target of 1.3560. As we see from the chart, the Intraday support at 1.3520 could keep the chances for another rebound toward 1.3675.
British Pound: Downside risks with 1.3480 in sight against US Dollar – UOB
The Pound-Dollar rate has fallen back to 1.3534 after Jackson Hole, but UBS still sees Sterling at 1.40 by December and 1.41 through much of 2027. The Pound to Dollar (GBP/USD) exchange rate ended Friday at 1.3534, down 0.46% after Kevin Warsh revived expectations for another Federal Reserve rate increase.
Pound Sterling Price News and Forecast: GBP/USD tumbles as Warsh revives Fed hike bets
GBPUSD also managed to hold below the resistance of 1.3675 while managing to hit a correction to move towards the target and support at 1.3560. As long as the market holds above the 1.3560 support, the advance scenario could return.
British Pound: Energy-driven inflation risks support GBP against US Dollar – MUFG
British Pound: Limited downside inside tight corridor against US Dollar – UOB
GBP/USD Price Forecast: Holds steady to near 1.3600, with bullish bias intact above 100-day SMA
Pound Sterling Price News and Forecast: GBP/USD slips on solid US jobless claims as Fed hawks lift USD
GBPUSD also managed to hold below the resistance of 1.3675 while managing to hit a correction to move towards the target and support at 1.3560. As long as the market holds above the 1.3560 support, the advance scenario could return.
The DAX is trading cautiously higher on Thursday, supported by technology stocks after Nvidia's strong outlook helped revive the AI trade. However, gains remain relatively contained as investors position cautiously ahead of the Jackson Hole symposium and Friday's speech from Fed Chair Kevin Warsh.
Pound-Dollar could remain under pressure if Jackson Hole reinforces Fed tightening expectations, while Sterling lacks fresh domestic support. The Pound US Dollar (GBP/USD) exchange rate fell back on Wednesday as markets digested the latest US economic data.