# GBP/USD Price Forecast: Holds steady above 1.3400, retains constructive tone above key support

> The pound traded flat near 1.3405 in early European trading on Tuesday as investors waited for the US midterm elections, the Bank of England rate decision and US jobs data. The BoE is widely expected to raise its Bank Rate to 4.0% from 3.75% at its Thursday meeting, its first hike since August 2023.

- Date: 2026-11-03 · published 2026-11-03T06:08:49.325Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/77076-gbp-usd-price-forecast-holds-steady-above-1-3400-retains-constructive-tone
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A BoE hike and hawkish guidance would support sterling against the dollar, but the move is largely priced in and guidance may limit gains. Currency moves of this kind have little direct effect on grain or feed commodity prices.

## Read by commodity

- DXY: neutral
- GBPUSD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-07-31 | [British Pound US Dollar X-Rate Forecast Warning: No BoE Hike Would Crush GBP/USD To 1.28](https://feedsoft.ai/events/64275-british-pound-us-dollar-x-rate-forecast-warning-no-boe-hike-would-crush-gbp-usd.md) | +0.6% | +0.6% |
| DXY | 2024-11-15 | [Australian Dollar holds recovery ahead of US Retail Sales data](https://feedsoft.ai/events/27662-australian-dollar-holds-recovery-ahead-of-us-retail-sales-data.md) | +0.1% | +0.2% |
| DXY | 2026-01-28 | [Forex Today: Fed delivers hawkish hold, US Dollar remains under pressure](https://feedsoft.ai/events/20966-forex-today-fed-delivers-hawkish-hold-us-dollar-remains-under-pressure.md) | +0.4% | +0.3% |
| DXY | 2020-07-30 | [USD/CAD jumps to weekly highs above 1.3450 on oil selloff — Octa](https://feedsoft.ai/events/52353-usd-cad-jumps-to-weekly-highs-above-1-3450-on-oil-selloff-octa.md) | -0.3% | -0.5% |
| DXY | 2024-06-01 | [VND USD: Vietnam Signals Readiness to Support Dong as Currency Hits Lows](https://feedsoft.ai/events/30574-vnd-usd-vietnam-signals-readiness-to-support-dong-as-currency-hits-lows.md) | +1.2% | +1.9% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/gbp-usd-price-forecast-holds-steady-above-13400-retains-constructive-tone-above-key-support-202611030531
- tmgm.com: https://www.tmgm.com/en/analysis/market-news/article/gbp-usd-price-forecast-holds-steady-above-13400-retains-constructive-tone-above-key-support-202611030531
- tmgm.com: https://www.tmgm.com/en-in/analysis/market-news/article/gbp-usd-price-forecast-holds-steady-above-13400-retains-constructive-tone-above-key-support-202611030531

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