The British pound rose during North American trading, gaining around 0.09% as the US dollar slipped despite Fed Chair Kevin Warsh’s hawkish comments on Friday. The GBP/USD pair was quoted at 1.3549.
GBP/USD steadies as traders weigh Warsh, Oil risks and upcoming data
Heightened geopolitical tensions between the United States and Iran dampened sentiment and pushed energy prices higher. West Texas Intermediate (WTI) crude advanced to $85.56 a barrel, up roughly 2.5% from its peak of $86.79.
Escalating attacks reduced expectations for unrestricted navigation through the Strait of Hormuz, while Iran targeted US facilities in Jordan and the United Arab Emirates. President Donald Trump warned of forthcoming retaliation in a Fox News interview.
Fed Chairman Kevin Warsh acknowledged that inflation remains above the Federal Reserve’s target and is a priority, while confirming that the labor market stays robust.
Markets priced a 64% probability of a rate hike at the September 16 policy meeting following his remarks. Investors are now focused on the Nonfarm Payrolls report due on Friday, September 4, and the Consumer Price Index release scheduled a week before the Fed’s next gathering.
Tuesday’s economic calendar includes the ISM Manufacturing PMI for August, forecast to slip to 55.2 from 55.6, reflecting a modest slowdown in factory activity. Traders will also monitor the JOLTS Job Openings report for July, which is expected to underscore continued labor‑market strength.
GBP/USD Price Forecast: Technical outlook
In the daily chart, GBP/USD trades at 1.3550, maintaining a near‑term bullish bias as the pair stays above a cluster of reclaimed structural levels and the triple simple moving averages (50‑, 100‑ and 200‑day) near 1.3429. A break above the former descending resistance line at 1.3385 and the prior downtrend line capped near 1.3482 indicates buyers remain in control, while the Relative Strength Index (14) sits around 54, suggesting steady but not over‑extended momentum.
Support initially lies around the current pivot area near 1.3550, followed by the former trend‑line barriers now acting as floors at 1.3482 and 1.3385. The triple SMA and an additional rising support line converge in the 1.3409‑1.3429 zone, reinforcing the medium‑term base. On the upside, the next key resistance aligns with the broken rising trend line near 1.3644; a rejection there could signal consolidation, whereas a sustained break would open the way for further bullish advancement.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Pound Sterling 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 US Dollar.
USDEURGBPJPYCADAUDNZDCHFUSD-0.28%-0.10%-0.22%-0.32%-0.03%-0.08%-0.16%EUR0.28%0.16%0.06%-0.03%0.22%0.22%0.12%GBP0.10%-0.16%-0.09%-0.20%0.04%0.04%-0.03%JPY0.22%-0.06%0.09%-0.10%0.19%0.16%0.09%CAD0.32%0.03%0.20%0.10%0.29%0.27%0.17%AUD0.03%-0.22%-0.04%-0.19%-0.29%-0.01%-0.07%NZD0.08%-0.22%-0.04%-0.16%-0.27%0.01%-0.07%CHF0.16%-0.12%0.03%-0.09%-0.17%0.07%0.07%
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).
