Actually, it's pronounced Pêdro. Like "Ê" is like how you say shit. You say something like shêt, and not shít, right? That's actually the sound you should make when saying Pedro. I know it's not the best of examples, but it's the only one I can think of right now. XDBy the way, my name is Pedro and I am Portuguese, so I actually know how to pronounce it. :)
By the way, my name is Pedro and I am Portuguese, so I actually know how to pronounce it. :)