The British Pound remained in a positive zone above 1.3320 against the US Dollar. GBP/USD corrected some gains from 1.3450, but the bulls protected losses.
British pound, GBP/USD and U.S. inflation are back in focus as Sterling struggles to extend its recovery. Michael Boutros, Senior Market Analyst at FOREX.com, examines the key technical levels that could determine the next move for GBP/USD, explains why resistance remains intact, and discusses how upcoming U.S. CPI, PPI and retail sales data could shape the outlook for the U.S. dollar and Sterling in the days ahead.
GBPUSD managed to test the resistance zone at 1.3400-30 last week before a market correction. As we see over the previous chart and as long as prices remain below this resistance, another retreat toward 1.3305 and 1.3160 could hit the market.
EUR/GBP has slid to its weakest level in a year, as the two currencies continue to follow increasingly divergent paths. The ECB's June hike—its first since 2023—was meant to signal renewed hawkishness, but the very next inflation print undercut that narrative: price growth cooled from 3.2% to 2.8%, enough for markets to now assign an 88% probability that policymakers will simply hold steady at their July 23 meeting.
GBP/USD Price Forecast: Pound holds above 1.3350 with the 200-day SMA capping gains
British Pound: Advance has ended with range trade likely against US Dollar – UOB
Pound Sterling Price News and Forecast: GBPUSD bounces back to near 1.3400
GBP/USD Price Forecast: Bounces back to near 1.3400 as US Dollar turns upside down
The GBP/USD pair rose steadily last week but has hit a turbulence as safe haven demand returns to favour the US dollar.
The Pound to Australian Dollar (GBP/AUD) exchange rate opens the new week around 1.9271 after holding close to five-month highs, with Sterling remaining well supported while the Australian Dollar faces another busy week of domestic data and renewed scrutiny over China's economic outlook. Latest — Exchange Rates:Pound to Australian.
British Pound: Rally fades into range trade against US Dollar – UOB
The Pound to Dollar (GBP/USD) exchange rate climbed over the past week, briefly reaching a three-week high as Sterling remained well supported despite renewed geopolitical tensions in the Middle East. At the time of writing, GBP/USD was trading at $1.3417, up around 0.5% on the week.