GBP/USD Stuck in Narrow Range as Sterling Waits for September Rate Decision
The British Pound (GBP) has been stuck in a narrow range over the past week, unable to break above 1.3500 despite strong employment data and dovish Federal Reserve comments.
According to FXStreet, the GBP/USD pair has traded within the moving-average band since mid-July, with price changes hands near 1.3450, up a tenth of a percent. The two sessions since Monday's session have traded wholly inside this range, adding nothing to the week's result.
The American releases between 12:15 and 14:00 GMT on Monday handed the Greenback two reasons to fall and one reason not to, with private payrolls printing 44K against a 70K consensus. This led to a labour miss of this size buying Sterling fourteen pips, trimming odds on a September increase from the high sixties to the high fifties.
The Bank of England's rate pricing tells the same story, with a cut remaining priced nowhere in 2026 after the softening due to the collapse in Crude Oil as much as the labour data. Two hawkish holds, twenty-four hours apart from the Federal Reserve and the Bank of England, have not moved Sterling for a week.