{
  "id": 3904951,
  "title": "GBP/USD Price Forecast: Holds steady to near 1.3600, with bullish bias intact above 100-day SMA",
  "url": "https://urgent.news/2026/08/28/gbp-usd-price-forecast-holds-steady-to-near-1-3600-with-bullish-bias",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-28T06:05:02.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/gbp-usd-price-forecast-holds-steady-to-near-13600-with-bullish-bias-intact-above-100-day-sma-202608280605"
  },
  "original_language": "en",
  "account": "The GBP/USD currency pair maintained a steady position near 1.3600 at the start of the European trading session on Friday. Traders had reduced hopes for an interest rate increase by the Bank of England (BoE) this year and shifted their focus to the upcoming annual monetary policy symposium in Jackson Hole, United States, scheduled for later Friday. The primary interest from traders lies in the speech given by Federal Reserve (Fed) Chair Kevin Warsh at the symposium, which could shed light on his perspective on the US economy, interest rates, and the Fed's strategy to bring inflation back to its 2% target. A hawkish stance from Fed officials could help prevent further losses for the US Dollar. Meanwhile, the UK's Bank of England (BoE) is now anticipating a rate hike of 24.7 basis points by December, indicating they no longer expect a 25-basis point hike this year, as per LSEG data. This shift in expectations aligns more closely with most economists, who have consistently indicated in Reuters polls that the BoE is likely to maintain steady interest rates in 2023. Strategists at UOB Group have noted that GBP/USD has continued to slide, with the Pound reaching a low of 1.3571 the previous day before settling almost flat at 1.3594, marking a negligible change of -0.03%. They suggest that oversold conditions, coupled with waning momentum, imply that instead of continuing its downward trajectory, GBP is more likely to trade within a range of 1.3570/1.3620, hinting at consolidation rather than further decline. Fed Chair Collins delivered a relatively less hawkish tone compared to previous expectations, with the FXS Speechtracker score at 4.8 out of 10, compared to the standard baseline of 5.7, suggesting a lowered urgency for further tightening. Collins emphasized that the current policy is already restrictive and should facilitate \"gradual disinflation,\" while also suggesting that portfolio management fees may have temporarily skewed headline inflation figures, with market-based prices better reflecting the target. Collins also attributed the recent rise in bond yields to price stability and expressed a view that, barring any new tariffs or oil shocks, inflation should ease, dampening immediate upside for the Dollar. The FXS Fed Sentiment Index decreased by 2.44 points to 129.11, indicating a retreat in perceived hawkishness, even though the gauge remains above the neutral 100 mark. This scenario suggests that, although the Fed stance is still hawkish overall, Collins' remarks add a softer nuance to policy expectations, in line with the lower FXS Speechtracker score. On the daily technical chart, GBP/USD exhibits a bullish bias while remaining above both the 100-day Simple Moving Average (SMA) and the 20-day Bollinger middle band, indicating underlying demand during brief pullbacks. The Relative Strength Index (14) at 59.7 points towards an uptrend without crossing into overbought territory, suggesting that buyers still possess the potential to push the price higher, although the current price is nearing the upper limit of its recent volatility range. The immediate resistance level is the August 25 high of 1.3655, with the next significant hurdle identified at the 20-day Bollinger upper band around 1.3680, where profit-taking may commence for the recent bullish swing. Conversely, support is present at the August 27 low of 1.3570, followed by the mid-Bollinger band at 1.3540, the 100-day SMA at 1.3445, and finally the lower Bollinger band near 1.3405, which together form a broad demand zone that could potentially challenge the prevailing bullish structure.",
  "summary": "The GBP/USD pair steadies around 1.3590 during the early European session on Friday. Traders pared expectations for an interest rate hike by the Bank of England (BoE) this year and shifted their attention to the annual symposium on monetary policy at Jackson Hole in the US later on Friday.",
  "key_points": [
    "GBP/USD holds steady near 1.3600 at start of European trading",
    "Fed Chair Kevin Warsh's speech at Jackson Hole symposium expected",
    "GBP/USD likely to trade within 1.3570/1.3620 range"
  ],
  "editors_take": "The steady GBP/USD price near 1.3600, with a bullish bias intact above the 100-day SMA, indicates that buyers still have potential to push the price higher within a defined range.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "EUR/JPY Price Forecast: Holds ground above 185.50 near nine-day EMA",
        "url": "https://urgent.news/2026/08/28/eur-jpy-price-forecast-holds-ground-above-185-50-near-nine-day-ema",
        "published": "2026-08-28T05:51:42.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}