FX.co ★ GBP/USD

Hi everyone! GBPUSD continues its inertial rise on the outcome of the latest Bank of England meeting. Although the regulator kept the base rate at 3.75%, the vote split turned out unexpectedly hawkish (6–3). Three out of nine committee members voted to raise the rate to 4.00%, citing risks of persistent inflation in the services sector. The rising GBPUSD trend could get a sharp boost literally tomorrow. Currency speculators are preparing for the release of the US consumer price index on August 12. If inflationary pressure eases, the dollar will collapse like it’s been cut down across the entire Forex market. At the same time, GBP is getting support from the IMF, which raised its UK 2026 GDP growth forecast to 1.0%. My trading plan for today: Long from the 1.3480 – 1.3500 zone. Take-profit at 1.3540 – 1.3560. If currency speculators start entering on the inflation news already today, GBPUSD could rise to 1.3620