Markets
Oct 29, 2026 6 min read
GBP/USD Forecast: Cable Drifts Under 1.3320 Into US GDP and PCE With a Bank of England Hike Fully Priced for Next Week
GBP/USD is trading near 1.3319 on 29 October 2026, lower for a fourth day, with the September PCE report and third-quarter GDP due at 12:30 UTC. The pound has a Bank of England hike to 4.00% on 5 November priced at better than 90% after UK inflation rose to 3.5%, and it has fallen anyway. This guide explains why, maps the levels (1.3390 moving-average cluster above, 1.3281 and 1.3255 below), sets out what the US data have to show, and gives a plan for a pair caught between a hawkish Bank of England and a stronger dollar.
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