empty
03.06.2025 06:24 PM
GBP/USD. Analysis and Forecast

This image is no longer relevant

The GBP/USD pair is attracting sellers today, pulling back from yesterday's high. This pullback is associated with a moderate strengthening of the US dollar, which is exerting pressure on the pair.

The US Dollar Index, which tracks the dollar's performance against a basket of currencies, is attempting to recover from a six-week low, also contributing to the decline of GBP/USD.

This image is no longer relevant

However, significant strengthening of the dollar has not yet been observed due to expectations of further Fed rate cuts later this year amid easing inflationary pressures. Additional risks for the dollar stem from concerns over a worsening fiscal situation in the US and the resurgence of trade tensions with China, which limits the dollar's growth. The British pound is supported by forecasts that the Bank of England will pause its rate-cutting cycle at the meeting on June 18, helping to curb the pair's decline. Therefore, attention should be paid to the upcoming parliamentary hearings on the Bank of England's report and comments from Bank Governor Andrew Bailey and other MPC members, which will provide guidance on future monetary policy. Additionally, during the North American session, the JOLTS job openings data from the US and speeches by Fed officials (Fedspeak) are expected, which will influence dollar dynamics and, consequently, the GBP/USD pair. Overall, the fundamental backdrop calls for caution among bears, given the mixed signals on the dollar and the pound. From a technical standpoint, oscillators on the daily chart remain in positive territory and are far from the oversold zone, suggesting that the path of least resistance for the pair is upward.

Irina Yanina,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

What to Pay Attention to on June 30? A Breakdown of Fundamental Events for Beginners

There are only a few macroeconomic reports scheduled for Monday. Perhaps the most important is the final Q1 GDP report in the United Kingdom. Let us recall that the British

Paolo Greco 06:02 2025-06-30 UTC+2

GBP/USD Overview – June 30: Nonfarm Payrolls, Powell, and Unemployment

The GBP/USD currency pair rose by 300 pips over the past week and appears to be in no hurry to stop. Even on Friday, the price failed to initiate

Paolo Greco 03:37 2025-06-30 UTC+2

EUR/USD Overview – June 30: European Inflation and Another Round of Lagarde Speeches

The EUR/USD currency pair has been rising for five consecutive months. During this time, we've only seen a few minor downward corrections, each ending in another collapse of the U.S

Paolo Greco 03:37 2025-06-30 UTC+2

U.S. Dollar – Weekly Preview

The American news background will once again play a key role for the dollar and, therefore, for the market and the vast majority of instruments. This past week, only

Chin Zhao 00:34 2025-06-30 UTC+2

British Pound – Weekly Preview

The situation for the British pound in the market and news landscape is quite similar. For the pound, two rate cuts by the Bank of England in 2025 or zero

Chin Zhao 00:34 2025-06-30 UTC+2

Euro Currency – Weekly Preview

In the upcoming week, the euro is expected to maintain demand in the market. Currently, all events are aligning in its favor. I previously wrote that only the wave structure

Chin Zhao 00:33 2025-06-30 UTC+2

EUR/USD – Weekly Preview: ISM Indexes, Nonfarm Payrolls, Eurozone Inflation, and "One Big Beautiful Bill"

The upcoming week promises to be both interesting and informative while also being volatile. The economic calendar is packed with major releases that could trigger heightened volatility in the EUR/USD

Irina Manzenko 00:33 2025-06-30 UTC+2

The Yen Has Lost Its Bullish Momentum

The Consumer Price Index (CPI) in the Tokyo region declined in June from 3.4% to 3.1% year-over-year, marking the first signal so far that may indicate a slowdown in price

Kuvat Raharjo 12:21 2025-06-27 UTC+2

EUR/JPY. Analysis and Forecast

The EUR/JPY pair is regaining positive momentum during today's trading session, reversing its recent decline.The euro continues to benefit from the prevailing sentiment of selling the U.S. dollar

Irina Yanina 12:17 2025-06-27 UTC+2

Inflation in Canada Remains Too High – USD/CAD May Accelerate Its Decline

Inflation in Canada remains too high to expect a rate cut by the Bank of Canada at its upcoming meeting. In April, inflation sharply slowed to 1.7% y/y, and most

Kuvat Raharjo 11:16 2025-06-27 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.