GBP/USD Price & Performance (GBPUSD)

The British pound continues to climb, reaching levels last seen in November 2024. This upward momentum is attributed to a weaker US dollar and renewed European optimism. Analysts suggest GBP/USD could test the 1.3000 mark if positive momentum persists, though overbought indicators hint at a potential short-term pullback.12

GBP/USD remains steady near the 1.2900 level, with markets awaiting US CPI data. The pair has been rangebound, reflecting cautious sentiment among traders. A strong US CPI report could strengthen the dollar, while a softer reading might support further gains for the pound.23

Despite recent gains, analysts highlight potential challenges for GBP/USD. Economic headwinds in the UK, including fiscal constraints and stagnant growth, may hinder further advances. HSBC forecasts the pair to decline to 1.23 by late 2025, citing broader uncertainty and global trade instability.45