# Pound Sterling Price News and Forecast: GBP/USD is testing support at previous highs in the 1.3420 area

> GBP/USD traded about 0.3% higher near 1.3430 at the start of the week, supported by expectations that the Bank of England will raise its Bank Rate by 25bp to 4.00% on Thursday. ING called the hike a done deal given elevated energy costs. The article is a technical forecast that reiterates the earlier PMI data.

- Date: 2026-11-02 · published 2026-11-02T12:09:15.787Z
- Category: market · region UK · magnitude low
- Page: https://feedsoft.ai/events/75376-pound-sterling-price-news-and-forecast-gbp-usd-is-testing-support-at-previous
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Expected BoE tightening supports sterling against the dollar, which can slightly lift the dollar value of UK-linked feed demand. The price link is indirect and the forecast adds little new information.

## Read by commodity

- GBPUSD: bullish ▲

## Sources

- fxstreet.com: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-is-testing-support-at-previous-highs-in-the-13420-area-202611021117

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