The Pound to Canadian Dollar (GBP/CAD) exchange rate traded in a narrow range on Wednesday as softer-than-expected UK inflation data weighed on Sterling while falling oil prices limited support for the commodity-linked Canadian Dollar. At the time of writing, GBP/CAD was trading at CA$1.8782, little changed on the day.
Fig. 1: GBP/USD minor trend as of 18 Jun 2026 (Source: TradingView). The information presented is historical information, and past performance is not indicative of future performance.
Global markets reacted sharply after the Federal Reserve delivered a hawkish hold at its June 2026 FOMC meeting. New Fed Chair Kevin Warsh kept interest rates unchanged but surprised investors by removing traditional forward guidance and signalling a stronger data-dependent policy framework.
GBP/USD has encountered a barrier at 1.3440 just as the dollar is losing its safe haven lustre. What's going on?
The focus will be on the Fed tonight and it will be interesting to see their response to the collapse in oil prices on the ba.
Our previous outlook for GBPUSD still stands, as the pair has held above the 1.3280 support level. GBPUSD managed to hold above 1.3280 and has rebounded toward 1.3500 a few weeks ago.
The Pound to Australian Dollar (GBP/AUD) exchange rate climbed above the AU$1.90 threshold on Tuesday after the Reserve Bank of Australia signalled a more cautious approach to future interest rate increases. At the time of writing, GBP/AUD was trading at AU$1.9002, up around 0.2% on the day.
The Pound to Dollar (GBP/USD) exchange rate traded close to $1.34 on Wednesday after UK inflation unexpectedly held steady at 2.8% in May, reinforcing expectations that the Bank of England will maintain a cautious approach to interest rate cuts. At the time of writing, GBP/USD was trading at $1.3421, while investors continued to monitor.
Looking at the 4-hour chart, the pair traded above the 100 simple moving average (red, 4-hour) but failed to surpass 1.3460 and the 200 simple moving average (green, 4-hour). There is also a key contracting triangle forming with resistance at 1.3450.
Pound Sterling Price News and Forecast: GBP/USD holds 1.3400 as Fed's rate decision looms
Interest rates in the United States have drifted lower early on Tuesday, putting pressure on the US dollar.
Our previous outlook for GBPUSD still stands, as the pair has held above the 1.3280 support level. GBPUSD managed to hold above 1.3280 and has rebounded toward 1.3500 a few weeks ago.