# GBP/USD Forecast: Holds bullish bias near 1.3400 before BoE

> GBP/USD rose back to near 1.3400 at the start of the week as hopes for Iran diplomacy weakened the safe-haven US dollar. The pair is holding above its 100-day SMA ahead of the Bank of England decision on Wednesday, which is widely expected to be a 25 basis point hike.

- Date: 2026-11-02 · published 2026-11-02T06:09:49.088Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/74942-gbp-usd-forecast-holds-bullish-bias-near-1-3400-before-boe
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Diplomatic hopes lower safe-haven demand for the dollar and support the pound on BoE tightening bets, which weakens the dollar against feed-importing currencies and can ease the cost of dollar-priced grain and meal imports for UK and European buyers.

## Read by commodity

- DXY: bearish ▼
- GBPUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-07-31 | [EUR/USD Price Forecast — Euro (1.1501) Holds 1.15 as Eurozone GDP Doubles Forecast at 0.4% and HICP Hits 2.9%](https://feedsoft.ai/events/18563-eur-usd-price-forecast-euro-1-1501-holds-1-15-as-eurozone-gdp-doubles-forecast.md) | -0.1% | -1.1% |
| DXY | 2020-08-30 | [Pound To Dollar Rate Forecast: Could A Dovish BoE Weigh On GBP/USD Rates This Week? \| Exchange Rates UK](https://feedsoft.ai/events/51866-pound-to-dollar-rate-forecast-could-a-dovish-boe-weigh-on-gbp-usd-rates-this.md) | +0.1% | +1.4% |
| DXY | 2017-04-01 | [Bullish British Pound To Dollar Rate Today On Better-than-Forecast UK Sales](https://feedsoft.ai/events/72235-bullish-british-pound-to-dollar-rate-today-on-better-than-forecast-uk-sales.md) | +0.2% | -0.0% |
| DXY | 2019-08-29 | [USD/JPY holds weaker below 106.00 handle, US GDP in focus — Octa](https://feedsoft.ai/events/57810-usd-jpy-holds-weaker-below-106-00-handle-us-gdp-in-focus-octa.md) | -0.3% | -0.1% |
| DXY | 2018-05-10 | [US Dollar Forecast: Has USD Run Out Of Surprises This Month?](https://feedsoft.ai/events/65213-us-dollar-forecast-has-usd-run-out-of-surprises-this-month.md) | +0.4% | +1.1% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/gbp-usd-price-forecast-sticks-to-bullish-near-13400-ahead-of-boe-decision-on-wednesday-202611020529

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