What is the GBP/USD forecast today?

GBP/USD last traded at 1.32234 in the London session, down 0.29% from the previous close at 1.32624. Daily and four-hour trends are down while the hourly trend is mixed, so the working bias is lower unless R1 at 1.33078 is cleared.

What are the key support levels for GBP/USD today?

The nearest support is the previous day low at 1.32217, 1.7 pips under the last price. Below that, S1 sits at 1.32193, then S2 at 1.31763 and the round number at 1.32. The five-day low and the 20-day low are both at 1.32013.

Which events could move GBP/USD today?

Today's calendar includes Challenger Job Cuts at 09:30 UTC, a speech by the BoE's Catherine Mann at 12:00 UTC, Initial Jobless Claims at 12:30 UTC (previous 197, estimate 200), and ISM Manufacturing PMI at 14:00 UTC (previous 54.6, estimate 55), plus several Fed speeches. Nonfarm Payrolls are tomorrow at 12:30 UTC, previous 162, estimate 90.

GBP/USD Forecast Today: Pair Tests 1.322 in London

Daily outlook Bearish bias Oct 1, 2026, 10:05 UTC

Claire DuboisEuropean Markets Analyst · ForexR analyst

GBP/USD is at 1.32234 in the London session, down 0.29%, with daily and four-hour trends down. The previous day low at 1.32217 is the nearest support.

Man working on two laptops stock market trading investments top view

Price1.32234

Day change-0.29%

Day range1.32222 - 1.32719

ATR (14)0.00641

Resistance	Level	Support	Level
R3	1.33963	S1	1.32193
R2	1.33533	S2	1.31763
R1	1.33078	S3	1.31308
Previous day high	1.33102	Previous day low	1.32217
20-day high	1.35672	20-day low	1.32013
Daily pivot 1.32648. Data as of 2026-10-01 08:20 UTC; price from a live feed, levels computed from the previous completed daily bar.

GBP/USD 1-hour chart with the daily pivot at 1.32648, R1 1.33078, R2 1.33533, S1 1.32193, S2 1.31763 and the bullish and bearish scenario paths — GBP/USD, 1-hour candles with the daily pivot levels, the range between nearest support and resistance, and both scenario paths. Data as of 2026-10-01 08:20 UTC.

Where GBP/USD stands now

GBP/USD last traded at 1.32234 in the London session, down 0.29% from the previous close at 1.32624. Daily and four-hour trends are down, and the previous day low at 1.32217 is the level that matters most, 1.7 pips under the last print. The day's open is at 1.32606, the day high at 1.32719 and the day low at 1.32222.

That range spans 49.7 pips, equal to 78% of the 14-day ATR of 64.1 pips, so a large share of typical daily movement is already on the board. The live GBP/USD rate, chart and pivots show price pressed against the session floor. Yesterday's close was 1.32624, with yesterday's high at 1.33102 and yesterday's low at 1.32217, an 88.5-pip range.

Trend and momentum

The daily trend is down. Price sits below the 20-day EMA at 1.3362, the 50-day EMA at 1.34188 and the 200-day EMA at 1.34176. The four-hour trend is down as well, with the 20-period EMA at 1.32481 beneath the 50-period EMA at 1.32791. The hourly trend is mixed: the 20-period EMA at 1.3253 sits above the 50-period EMA at 1.32516.

Daily and four-hour structure agree on a downward bias; the hourly frame does not confirm it. Daily RSI is at 34.3. The pair is down 0.1% over five days and down 1.93% over 20 days.

Levels that matter

Nearest support is the previous day low at 1.32217. Nearest resistance is the daily pivot at 1.32648, 41.4 pips above the last price. Round numbers sit at 1.32 below the market and 1.325 above it.

Pivots place the central pivot at 1.32648, R1 at 1.33078, R2 at 1.33533 and R3 at 1.33963, with S1 at 1.32193, S2 at 1.31763 and S3 at 1.31308. Those readings can be checked on the pivot point calculator. Yesterday's high at 1.33102 and yesterday's low at 1.32217 still frame the prior session.

The five-day high is 1.33102 and the five-day low is 1.32013. The 20-day high is 1.35672 and the 20-day low is 1.32013.

Bullish scenario and bearish scenario

If buyers clear R1 at 1.33078, the next reference is R2 at 1.33533, 45.5 pips from the trigger. A drop back under the daily pivot at 1.32648 would wipe out that view.

Sellers would need S1 at 1.32193 to give way before S2 at 1.31763, 43 pips below that trigger, becomes the working target. Recovering the daily pivot at 1.32648 would take that path off the table.

What could move it today

Today's docket starts at 09:30 UTC with US Challenger Job Cuts, previous 52.881. Bank of England policymaker Catherine Mann speaks at 12:00 UTC. US Initial Jobless Claims follow at 12:30 UTC, previous 197, estimate 200. At 14:00 UTC the high-impact ISM Manufacturing PMI is due, previous 54.6, estimate 55, alongside ISM Manufacturing Prices Paid (previous 71.1, estimate 72.3), the New Orders Index (previous 53.7), the Employment Index (previous 51.2) and a speech by the Fed's Waller. Later Fed remarks come from Jefferson at 17:30 UTC, Bowman at 19:00 UTC, and Williams and Cook at 19:30 UTC. Tomorrow, Nonfarm Payrolls print at 12:30 UTC, previous 162, estimate 90, with the U6 Underemployment Rate, previous 7.7. A guide to using an economic calendar lays out how those timestamps sit on the London-to-New York handoff.

FX Street, ExchangeRates, FXEmpire and Forexcom have clustered around inflation prints, US growth figures and whether any rebound can challenge the pound's downtrend, according to those publishers.

News coverage leans 60% bullish, with media mood at 100 out of 100. The opportunity read is a separate score of -21, labelled bearish, and news volume is at 84% of its 90-day average.

As of the week to September 22, large speculators sat net short GBP/USD; speculators added to net short GBP/USD. At the September 30 close, the US 2-year yield was at 4.88%, down 1 basis point, and the 10-year yield was at 5.29%, up 3 basis points.

Bottom line

GBP/USD is at 1.32234 in London, down 0.29%, with daily and four-hour trends down and the hourly chart mixed. The previous day low at 1.32217 sits 1.7 pips away; a break of S1 at 1.32193 would open S2 at 1.31763, while only a clearance of R1 at 1.33078 would map toward R2 at 1.33533. Mann's speech, claims and ISM at 14:00 UTC are on today's calendar, with Nonfarm Payrolls tomorrow.