- Retail sales of the United Kingdom improve and the BOE is expected to be less moderate, which drives the demand for sterling pound.
- The US dollar pressed by the appetite for risk and Fed entering into a period of silence prior to the meeting.
- Operators prepare for key housing data in the United Kingdom and a heavy economic calendar in the US this week.
The sterling pound begins the week with a positive trend, ready to close April with force, rising 0.65% while the dollar continues to weaken and improve the appetite for risk. At the time of writing, the GBP/USD quotes about 1,3400 after bouncing from daily minimums of 1,3279.
The GBP/USD shoots as the operators favor the pound against a stronger United Kingdom overview and the decrease in the Hawkish posture of the Fed
Wall Street operates with profits, a wind against the appetite for refuge assets such as the US dollar. A scarce economic agenda in the US and Federal Reserve officials entering into a period of silence before the May meeting keep the operators focused on the publication of data from the United Kingdom. The CBI in the United Kingdom revealed that retail sales in April were negative, but improved from -41 in March to -8, its highest reading from October.
The cable has been promoted by the expectations that the Bank of England (BOE) would not be as moderate as expected. The probabilities of interest rates show that market participants estimate 87 basic relaxation points towards the end of the year. On the other side of the Atlantic, the FED is expected to reduce the rates at 88 basic points, which suggests that a greater GBP/USD is expected since investors are still concerned about US commercial policies and the recent weakness of the US dollar.
Barclays analysts remain optimistic about the pound, particularly in front of the euro. “The largest resilience in the United Kingdom in the face of direct tariffs that the euro zone implies less damage to demand, thus compensating for a more limited fiscal space,” they said.
This week, the United Kingdom’s economic agenda will present data on housing prices. On the contrary, in the US, the operators are attentive to GDP figures for the first quarter of 2025, the Fed’s favorite inflation indicator, the underlying PCE, the ISM manufacturing PMI and the non -agricultural payroll data in April.
GBP/USD price forecast: technical perspective
The GBP/USD continues with an upward trend, although buyers have failed to overcome the maximum of the year to date (YTD) of 1,3423. A rupture of this last will expose 1,3450, before challenging 1,3500. On the other hand, if the torque falls below 1,3400, the following support would be 1,3350, followed by the simple mobile average (SMA) of 50 days in 1,3273.
LIBRA ESTERLINA PRICE TODAY
The lower table shows the percentage of pounding sterling (GBP) compared to the main currencies today. Libra sterling was the strongest currency against the US dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.15% | -0.56% | -0.61% | -0.17% | -0.24% | -0.13% | -0.49% | |
| EUR | 0.15% | -0.47% | -0.45% | -0.03% | -0.18% | 0.00% | -0.35% | |
| GBP | 0.56% | 0.47% | 0.00% | 0.46% | 0.27% | 0.48% | 0.13% | |
| JPY | 0.61% | 0.45% | 0.00% | 0.47% | 0.40% | -0.92% | 0.38% | |
| CAD | 0.17% | 0.03% | -0.46% | -0.47% | -0.20% | 0.04% | -0.31% | |
| Aud | 0.24% | 0.18% | -0.27% | -0.40% | 0.20% | 0.21% | -0.16% | |
| NZD | 0.13% | 0.00% | -0.48% | 0.92% | -0.04% | -0.21% | -0.36% | |
| CHF | 0.49% | 0.35% | -0.13% | -0.38% | 0.31% | 0.16% | 0.36% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the sterling pound from the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the GBP (base)/USD (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
