GBP/USD Eyes Breakout as Pound Rises Despite BoE Cut Bets and Fiscal Woes
Thursday saw the British pound hold firm against the US dollar, trading near 1.3569 after a big bounce from last week’s 1.3367 low.
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Last updated: Thursday, July 24, 2025
Quick overview
- The British pound remained stable against the US dollar, trading near 1.3569 after recovering from last week's low of 1.3367.
- UK government borrowing figures revealed a significant rise, prompting discussions of potential tax hikes, yet the pound's performance remained resilient.
- Mixed PMI data showed steady services performance but a contraction in manufacturing, influencing market sentiment ahead of the Bank of England's upcoming commentary.
- GBP/USD is testing key resistance levels, with potential for further movement depending on upcoming economic data and technical indicators.
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Arslan Butt
Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.
His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.
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