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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We are still seeing some incredibly quiet trading conditions in the GBP/USD exchange rate.
Resilience characterizes the GBP/USD recently, and last week the bulls tried to take off with the currency pair above the resistance 1.2775.
The British Pound has gone back and forth during the course of the trading session here on Friday.
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The GBP demonstrates notable resilience against the recent strength of the US dollar.
The British Pound has rallied a bit during the trading session on Wednesday.
In mid-trading this week, the British pound rose to its highest level in a week against the US dollar and tested the top of the main range against the euro.
The pound sterling is still holding up well against the recent gains of the US dollar.
GBP/USD forecasts show that it is in a steadfast position and the bull’s control over the trend will strengthen if the currency pair moves above the resistance 1.2775.
Looking at the British Pound, you can see that the market has initially tried to rally during the trading session on Thursday but gave back the gains rather quickly.
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The British pound recovered against other major currencies during yesterday's session after inflation in the UK rose more than expected, leading financial markets to ease expectations of imminent interest rate cuts from the Bank of England.
Recently, the British pound fell against the euro, dollar, and other major currencies after investors bet that official wage figures were below par, suggesting that the Bank of England could follow up with more significant interest rate cuts soon.
The pound sterling began trading in 2024 on a positive note, but strong technical resistance and three key data releases in the UK suggest that the downside risks are elevated in the coming days.
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The British pound closed the week higher against the euro and the US dollar, supported by news that the UK economy rebounded in November.
Throughout this week's trading, the pound has shown notable resilience against the dollar's gains against other major currencies since the release of stronger-than-expected US jobs numbers.