Pound Sterling Price News and Forecast: GBP/USD bears face increased headwinds from 2026 low
GBPUSD fell below the daily trend support at 1.3280 which could lead to more pressure over the market. As we see from the chart, Intraday prices show resistance around 1.3325, where as long as the market holds below it, more of drop toward targets and supports 1.3160 and 1.3010 is likely.
Cable continues to trade near 2026 low (1.3159, posted on March 31 and last Friday's low / trendline support at 1.3163) following news of resignation of UK PM Starmer.
UK Prime Minister Keir Starmer's resignation marks a significant political development, but the muted reaction in Sterling suggests markets had largely anticipated the outcome. After weeks of speculation over his future, investors appear to view the announcement less as a shock and more as the formal conclusion of a process that had already been priced into UK assets.
British Pound: Weak bias against US Dollar with key support in focus – UOB
GBP/USD Price Forecast: UK political uncertainty calls fresh leg of downfall ahead
The Pound to Dollar (GBP/USD) exchange rate suffered heavy losses last week as a hawkish shift from the Federal Reserve boosted the US Dollar while softer UK inflation, a cautious Bank of England and renewed political uncertainty weighed on Sterling. At the time of writing, GBP/USD was trading around $1.3223, down roughly 1.5% on the week.
Pound Sterling Price News and Forecast: GBP/USD attracts some buyers at the start of a new week
The GBP/USD exchange rate came under pressure on Monday morning as investors reacted to the ongoing political uncertainty in the UK. It retreated to 1.3224, down sharply from last week's high of 1.3460.
An orderly, autumn-dated exit would remove some of the acute uncertainty that has been pressuring sterling, since markets generally prefer a defined timetable over an open-ended leadership crisis. That said, the medium-term picture stays clouded given Burnham's more left-leaning fiscal instincts relative to Starmer, keeping a political risk premium embedded in gilts and GBP/USD until his policy direction becomes clearer.
Pound Sterling Price News and Forecast: GBP/USD rebounds as holiday-thinned trade slows USD bulls
The US dollar gave back some of the gains as we head into the weekend.