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fxJul 30, 2026, 8:37 AM

GBP/USD Drops to 1.3350 as Markets Await BoE Rate Decision

The pound weakened against the dollar on Thursday, retreating from a weekly high near 1.3390 as traders brace for the Bank of England's policy meeting.

GBPUSD

The GBP/USD pair faced renewed selling pressure on Thursday, pulling back from the previous day's peak around the 1.3385–1.3390 zone. The move left the currency pair trading in negative territory near 1.3350.

Traders are exercising caution ahead of the Bank of England's interest rate announcement, with the decision expected to drive sterling's next short-term direction. The retreat erased gains from earlier in the week, underscoring the market's cautious stance.

Source: FXStreet Forex News