The Pound Sterling (GBP) has increased by 0.2% against the USD, finding support in the lower-1.29 area. Current market sentiment is buoyed by relief over trade, particularly due to recent positive shifts in the US administration’s tariff stance.
GBP/USD is trading around 1.2950, with resistance noted near 1.3020. Recent US data, including disappointing consumer sentiment and new home sales figures, is impacting the USD, making it challenging for the currency to gain traction.
Gold remains bullish, trading above $3,030, benefiting from the weak US dollar. The upcoming week features important market influencers, such as potential tariff announcements and key economic surveys.
Pound Sterling Market Trends
The current behaviour in Pound Sterling aligns with broader market trends we’ve observed. A modest 0.2% gain against the US dollar reflects renewed confidence, likely tied to easing trade concerns. The lower-1.29 range appears to be a level where buyers are stepping in, reinforcing this support zone. With cable hovering near 1.2950, immediate resistance is seen near 1.3020. Traders should note this level carefully, as failure to break higher might indicate hesitancy.
Market sentiment has been shaped in part by discouraging US data releases, especially in consumer sentiment and new home sales. This softness in economic indicators is preventing the greenback from mounting a convincing recovery. Many are now watching how upcoming reports confirm—or challenge—this narrative.
Meanwhile, gold remains well bid, holding above $3,030. The metal continues to benefit from a subdued dollar, which makes it more appealing to investors seeking stability. Should weakness persist in the US currency, bullion may extend its strength further.
Upcoming Market Events
In the days ahead, scheduled economic events could bring renewed volatility. Any further developments on trade policies, particularly regarding tariffs, stand to generate sharp moves. Additionally, key surveys set for release will help shape expectations, particularly with respect to macroeconomic trends. Those active in derivative markets should track these events closely, as shifting market sentiment could alter short-term positioning across asset classes.
