The most active trading sessions for the GBP/USD currency pair occur in London and New York, with some activity during Asian markets from 2400 GMT to 0900 GMT..
GBP/USD is sensitive to political and economic developments in the UK. It's influenced by interest rate differentials, economic data, and geopolitical events. For the latest updates and forecasts on GBP/USD, consult reliable sources and market analysis reports to make informed trading decisions
Most Recent
The pound could continue to advance against the dollar in the coming weeks, but the next few days could see some consolidation around current levels.
The British pound initially pulled back a bit against the US dollar during the early hours on Monday, but you've seen traders come in and start buying the pound right at the 1.3250 region.
The British Pound came under pressure on Friday morning after UK retail sales exceeded expectations. However, a disappointing consumer sentiment survey suggests that the government's pessimistic tone regarding the economy and national finances is having a chilling effect.
Top Forex Brokers
The first thing I see is that we broke well above the 1.33 level during the trading session, and therefore I think it’s only a matter of time before we go much higher.
Recent trades have seen the British Pound rise to near $1.33, its strongest level since February 2022, benefiting from the general weakness of the US dollar.
As expected, the GBP/USD has maintained its recent gains pending the reaction to the US and UK monetary policy decisions this week.
The British pound has pulled back just a bit in the early hours on Tuesday, as we are looking at the 1.32 level as a bit of a ceiling, but perhaps more importantly, we are looking at a bullish flag offering a bit of resistance.
The GBP/USD exchange rate could test its 2024 high of 1.3250 if the Federal Reserve cuts US interest rates by 50 basis points this week.
The GBP/USD pair does in fact look very bullish.
Bonuses & Promotions
At the beginning of this week, the GBP/USD pair was trading around $1.3158, up by about 0.2% from the previous Friday's levels.
While we did break above the 1.3150 level, we ended up giving back the gains and have closed the market with essentially what looks like a shooting star.
During my daily analysis of the GBP/USD pair, I see that we are bouncing a bit, and it does look like we are ready to go going higher
Subscribe
Sign up to get the latest market updates and free signals directly to your inbox.The GBP/USD exchange rate recorded an increase in mid-week trading, with some analysts attributing the weakness of the US dollar to the strong performance of US presidential candidate Kamala Harris.
The pound sterling remained relatively unchanged at $1.3080 as traders digest new economic data and monetary policy outlook.
We anticipate further losses for the GBP/USD pair this week, but we believe the decline will be limited to the 1.3036 support level.