Pound Sterling Price News and Forecast: GBP/USD signals caution as BoE takes spotlight

FXStreet Team FXStreet

GBP/USD signals caution as BoE takes spotlight

GBPUSD made a modest push into the 1.3000 area following the FOMC policy meeting on Wednesday, which kept the door open for rate cuts amid ongoing uncertainty about the US economic outlook.

The Bank of England is next on the calendar today, and the pair is currently trading moderately lower at 1.2964 after UK claimant counts jumped unexpectedly in February. While the central bank is widely expected to hold rates steady, any shifts in its communication tone in response to trade and geopolitical risks could generate fresh volatility. Read more...

GBP/USD Forecast: Pound Sterling fails to attract buyers ahead of BoE

GBP/USD stays on the back foot and trades in negative territory below 1.3000 in the European morning on Thursday as markets assess the latest data releases from the UK, while waiting for the Bank of England's (BoE) policy announcements.

The Federal Reserve left the policy rate unchanged at 4.25%-4.5% following the March meeting, as expected. The revised Summary of Economic Projections (SEP), also known as the dot plot, showed that policymakers still project a total of 50 basis points (bps) reduction in rates in 2025. Although the US Dollar (USD) struggled to gather strength with the immediate reaction, it managed to find a foothold during Fed Chairman Jerome Powell's press conference. Read more...

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EUR/USD looks sidelined below 1.1600

EUR/USD remains on the back foot in the latter part of the NA session on Thursday, now attempting a consolidative theme in the sub-1.1600 region. A more cautious market mood, driven by the escalating conflict in the Middle East, together with broad-based strength in the US Dollar, is favouring the continuation of the leg lower in spot.

GBP/USD stays offered near 1.3340

GBP/USD fades Wednesday’s uptick and trades with decent losses in the 1.3340 zone in the latter part of Thursday’s session. Cable’s weakness, alongside the rest of the risk complex, follows the strong performance of the Greenback amid intense geopolitical jitters.

Gold: further weakness could challenge $5,000

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Crypto Today: Bitcoin, Ethereum, XRP hold weekly gains despite US-Iran war

The cryptocurrency market is gaining strength on Thursday, building on Wednesday's upswing, which saw Bitcoin reach a weekly high above $74,000. Ethereum and Ripple are moderating their recent gains amid uncertainty stemming from the escalating war in the Middle East.

Two PMIs, two Chinas

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Ripple tests recovery strength amid steady ETF inflows, growing retail interest

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.