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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The recent trades show that the progress of GBP/USD exchange rate has temporarily halted near the psychological resistance barrier of 1.30.
The British pound initially fell during the trading session on Tuesday but has seen a bit of support later in the session.
According to recent trades, the British pound reached its highest level in a year against the US dollar after rising 1.35% last week.
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The GBP/USD rate began this week's trading, stabilizing around the 1.2973 level, awaiting any new developments.
A recent rally in GBP/USD has once again stalled after hitting a well-known technical barrier and Jerome Powell's sober assessment of the likelihood of rate cuts.
The recent gains in the GBP/USD price have been capped at the 1.2845 resistance level.
In my daily British pound, US dollar analysis, it's hard not to notice that we are banging up against the 1.28 level.
The British pound has now reached high levels against the US dollar and will need to see a weak US inflation print on Thursday if it is to make further progress.
The GBP/USD exchange rate is trading near a 3-week high ahead of major economic and political developments on both sides of the Atlantic.
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The British pound has tested the 1.28 level during the day, which of course is a large, round, psychologically significant figure.
The dollar weakened after a weekly survey showed an increase in the number of US jobless claims, but selling interest had already peaked after the ISM services survey showed an unexpectedly sharp slowdown in activity.
GBP/USD surged unexpectedly after comments by the Federal Reserve Chair were seen by analysts and market participants as increasing the odds of a September rate cut.
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Sign up to get the latest market updates and free signals directly to your inbox.The British pound initially pulled back just a bit to look for support during the trading session on Tuesday as we are reaching towards the 200 day EMA.
The British pound started the new week trading higher against the US dollar, although a crowded US data calendar and the UK elections could cause some volatility.
At the beginning of this week’s trading, with the US dollar’s gains halted slightly, the GBP/USD price is moving around 1.2685 at the time of writing.