{"id":57870,"date":"2026-07-28T19:52:41","date_gmt":"2026-07-28T19:52:41","guid":{"rendered":"https:\/\/www.vtmarkets.com\/en-ca\/uncategorized\/sterling-slips-as-traders-scale-back-bank-of-england-rate-rise-bets-gbp-usd-tests-july-lows\/"},"modified":"2026-07-28T19:52:41","modified_gmt":"2026-07-28T19:52:41","slug":"sterling-slips-as-traders-scale-back-bank-of-england-rate-rise-bets-gbp-usd-tests-july-lows","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-ca\/live-updates\/sterling-slips-as-traders-scale-back-bank-of-england-rate-rise-bets-gbp-usd-tests-july-lows\/","title":{"rendered":"Sterling Slips as Traders Scale Back Bank of England Rate Rise Bets, GBP\/USD Tests July Lows"},"content":{"rendered":"

GBP\/USD is extending a bearish reversal towards levels last seen in early July as markets pare back expectations for Bank of England tightening. The data calendar is light ahead of Thursday\u2019s BoE meeting, which will include an updated forecast. Short-term rate markets have reduced the degree of tightening priced in for coming months, weakening support that had come via rate spreads.<\/p>\n\n

Bank of England Meeting and Market Expectations<\/h3>\n\n

September meeting pricing has dropped from 20bpts to 13bpts, while cumulative tightening priced by December has fallen by about 12bpts to 37bpts. Sterling is down a fractional 0.1% against the dollar.<\/p>\n\n

Technical Outlook and Key Levels<\/h3>\n\n

Technical conditions remain bearish: the RSI is sliding further into negative territory and is threatening a move below 40, with the pair trading within a range spanning the mid-1.31s to the mid-1.35s; near-term support is seen at 1.3250 and resistance at 1.3350.<\/p>\n\n\n\n

Start trading now \u2014 click here<\/a> to create your real VT Markets account.<\/b>\n\n<\/p>","protected":false},"excerpt":{"rendered":"

GBP\/USD slides as markets price fewer Bank of England hikes ahead of meeting; bearish technicals pressure key support.<\/p>\n","protected":false},"author":87,"featured_media":55923,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[59],"tags":[],"class_list":["post-57870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/57870","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/comments?post=57870"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/57870\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media\/55923"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media?parent=57870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/categories?post=57870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/tags?post=57870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}