GBP: More consolidation likely – ING

The Bank of England's MPC meeting this Thursday might not prompt a major reassessment of the pace of the easing cycle, ING's FX analyst Chris Turner notes.

EUR/GBP may be more comfortable in the 0.8650-0.8700 area

"If that's the case, we doubt EUR/GBP needs to stray too far from the 0.8700 area. Equally, there could be a positive surprise for sterling were the BoE to announce that a lower pace of quantitative tightening – e.g., £75bn per year instead of £100bn – was accompanied by fewer sales of longer-dated Gilts. That could take some pressure off the longer end of the curve and be seen as a positive for UK sovereign risk."

"We tend to think EUR/GBP would be more comfortable in the 0.8650-0.8700 area this week."

Aug 4, 2025

Silver Price Forecast: XAG/USD returns above $37.00 with the bearish trend intact

Silver (XAG/USD) is drawing support from a depressed US Dollar and the recent decline in US Treasury yields to regain the $37.00 level, but the immediate trend remains bearish with the recent trend of lower highs and lower lows still intact.The precious metal bounced up from multi-week lows at $36.2

GBP/USD: Expected to trade in a range between 1.3220 and 1.3320 – UOB Group

Pound Sterling (GBP) is expected to trade in a range between 1.3220 and 1.3320. In the longer run, the likelihood of GBP breaking clearly below 1.3140 has diminished considerably, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.