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
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After investors digested the US Federal Reserve announcement yesterday, the GBP/USD pair is cautiously awaiting the Bank of England announcement today, Thursday.
Ahead of important events and data, the GBP/USD currency pair is under selling pressure.
GBP Dips, Rebounds at 50-Day EMA Amid Volatility.
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The GBP/USD exchange rate fluctuated last week, as a flow of economic data from the US and UK led to volatility in the pair.
The pound has fallen from its highest level in March against the US dollar and risks another setback if UK inflation disappoints and the Federal Reserve takes a hawkish stance.
The British pound has pulled back just a bit during the training session on Friday.
The GBP/USD currency pair has retreated from its highest level in seven months, with losses extending to the 1.2746 support level before settling around 1.2800 at the time of writing the analysis.
Weaker-than-expected UK wage and employment data boosted the chances of a June rate cut by the Bank of England and led to broad-based weakness in the pound.
The pound sterling is likely to hit its highest level in several months against the US dollar this week, supported by positive technicals.
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The pound hit a seven-month high against the dollar on US wage slowdown, as the US dollar was sold off at the end of last week.
During yesterday's trading session, the GBP/USD pair rose by a third of a percent to reach 1.2744 after the US job quit rate fell.
The UK budget announcement and the testimony of the US Federal Reserve Chairman are factors that will have a strong impact on the performance of the GBP/USD currency pair during today's session.
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Sign up to get the latest market updates and free signals directly to your inbox.The GBP/USD exchange rate traded widely last week, generally heading lower amid economic data releases from the United States.
The US dollar strength helped the bears move the GBP/USD currency pair to the psychological support level of 1.2600 and closed trading around 1.2650 last week.
In the middle of trading this week, the GBP/USD currency pair fell to the 1.2622 support level before stabilizing around 1.2665.