- GBP/USD drops to 1.3389 from a yearly high of 1.3429 as the US Dollar strengthens.
- Pullback to the top of an ascending channel at 1.3363 may offer buying opportunities, with RSI still favoring buyers.
- Maintaining above 1.3363 could push GBP/USD to retest the yearly high of 1.3429 and aim for 1.3437, 1.3450, and 1.3500.
- Falling below 1.3363 might lead to testing the week’s low at 1.3248 and further support at the September 19 low of 1.3153.
The Pound Sterling lost some steam against the US Dollar in early trading during Wednesday’s North American session after hitting a yearly peak of 1.3429. The GBP/USD trades at 1.3389, down 0.18%, as the Greenback recovers some ground.
GBP/USD Price Forecast: Technical outlook
From a technical standpoint, the GBP/USD pullback toward the top of an ascending channel at 1.3363 opened the door for further buying, as seen by price action.
The Relative Strength Index (RSI) hints that buyers remain in charge. However, in the short term, the GBP/USD might print another leg-down before resuming its rally, which could put the March 1, 2022, peak at 1.3437 to the test.
If GBP/USD remains above 1.3363, this could pave the way to challenge the current yearly high of 1.3429. On further strength, that will expose 1.3437, followed by the 1.3450 figure, ahead of 1.3500.
Conversely, if the pair slumps past 1.3363, it could hit the current week’s low of 1.3248. On further weakness, the bulls’ following line of defense will be the September 19 daily low of 1.3153.
GBP/USD Price Action – Daily Chart
British Pound PRICE Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.06% | 0.29% | 0.79% | 0.20% | 0.43% | 0.60% | 0.66% | |
| EUR | -0.06% | 0.24% | 0.74% | 0.14% | 0.37% | 0.56% | 0.59% | |
| GBP | -0.29% | -0.24% | 0.48% | -0.10% | 0.13% | 0.28% | 0.36% | |
| JPY | -0.79% | -0.74% | -0.48% | -0.58% | -0.35% | -0.19% | -0.13% | |
| CAD | -0.20% | -0.14% | 0.10% | 0.58% | 0.23% | 0.41% | 0.46% | |
| AUD | -0.43% | -0.37% | -0.13% | 0.35% | -0.23% | 0.19% | 0.23% | |
| NZD | -0.60% | -0.56% | -0.28% | 0.19% | -0.41% | -0.19% | 0.05% | |
| CHF | -0.66% | -0.59% | -0.36% | 0.13% | -0.46% | -0.23% | -0.05% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
Gold moves to record highs past $3,340 Premium
Gold now gathers extra steam and advances beyond the $3,340 mark per troy ounce on Wednesday, hitting all-time highs amid ongoing worries over escalating US-China trade tensions, a weaker US Dollar and lack of news from Powell's speech.
EUR/USD remains in a consolidative range below 1.1400
EUR/USD navigates the latter part of Wednesday’s session with marked gains, although another test of the 1.1400 level remained elusive. The strong bounce in spot came on the back of a marked move lower in the US Dollar, which remained apathetic following the neutral stance from Chair Powell.
GBP/USD alternates gains with losses in the low-1.3200s
Even as the dollar retreats, GBP/USD continues to linger in the 1.3220–1.3230 range, forfeiting much of its intraday rally from multi‑month highs near 1.3300. Softer UK inflation data on Wednesday seem to have capped Cable’s upside.
Bitcoin stabilizes around $83,000 as China opens trade talks with President Trump’s administration
Bitcoin price stabilizes around $83,500 on Wednesday after facing multiple rejections around the 200-day EMA. Bloomberg reports that China is open to trade talks with President Trump’s administration.
Future-proofing portfolios: A playbook for tariff and recession risks
It does seem like we will be talking tariffs for a while. And if tariffs stay — in some shape or form — even after negotiations, we’ll likely be talking about recession too. Higher input costs, persistent inflation, and tighter monetary policy are already weighing on global growth.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.