# GBP/USD Rate: Desperately Seeking Support

> GBP/USD has fallen about 7% from highs near 1.31 over nine weeks and printed a fresh six-month low on September 27. Analysts point to the 1.20 level as the next key psychological support, with the decline driven by repricing of UK rate expectations.

- Date: 2023-09-27 · published 2023-09-27T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/34358-gbp-usd-rate-desperately-seeking-support
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

The move reflects a broad dollar rally that supports the dollar index, a headwind for dollar-denominated grain and oilseed prices and for export competitiveness.

## Read by commodity

- DXY: bullish ▲
- GBPUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-08-26 | [Euro falls despite report signaling ECB rate hike](https://feedsoft.ai/events/18102-euro-falls-despite-report-signaling-ecb-rate-hike.md) | +0.4% | +1.6% |
| DXY | 2023-06-22 | [Sterling declines despite 0.5% UK rate hike](https://feedsoft.ai/events/35763-sterling-declines-despite-0-5-uk-rate-hike.md) | +0.5% | -1.0% |
| DXY | 2024-04-15 | [Dollar's rally supercharged by diverging US rate outlook](https://feedsoft.ai/events/11277-dollar-s-rally-supercharged-by-diverging-us-rate-outlook.md) | +0.7% | -0.2% |
| DXY | 2026-01-30 | [GBP/USD dips as US Dollar gains on Senate deal, BoE meeting in focus](https://feedsoft.ai/events/21300-gbp-usd-dips-as-us-dollar-gains-on-senate-deal-boe-meeting-in-focus.md) | +0.9% | +0.3% |
| DXY | 2017-03-14 | [Thai gains seen in US rate hike](https://feedsoft.ai/events/72257-thai-gains-seen-in-us-rate-hike.md) | -1.2% | -1.1% |

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/usd/19293-pound-to-dollar-rate-desperately-seeking-support

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.