With the stable Middle East truce reducing geopolitical risk premium, the Dollar gained ground amid shifting risk sentiment. DXY advanced to $99.94 with bullish continuation, EUR/USD defended blue trendline support, and GBP/USD held $1.3366.
GBP/USD attempted to move closer to 1.3350 on Tuesday but remained under pressure. The US dollar continues to benefit from strong US labour market data, which reinforced expectations that the Federal Reserve will maintain a restrictive monetary policy stance and could even consider further interest rate increases before the end of the year.
Our previous outlook for GBPUSD still stands, as the pair has held above the 1.3280 support level. GBPUSD managed to hold above 1.3280 and rebound toward 1.3500 so far.
Pound Sterling Price News and Forecast: GBP/USD steadies following the previous day bounce
The British Pound failed to surpass 1.3520 against the US Dollar. GBP/USD started a fresh decline below 1.3460 and 1.3450 to move into a bearish zone.
Pound Sterling Price News and Forecast: GBP/USD edges higher as Iran-Israel halt hostilities
The Pound to Canadian Dollar (GBP/CAD) exchange rate edged higher last week as volatile oil prices and shifting Middle East headlines weighed on the commodity-linked Canadian Dollar. At the time of writing, GBP/CAD was trading around CA$1.8634, up roughly 0.4% on the week.
Pound Sterling Price News and Forecast: GBP/USD posts modest losses near 1.3340
As the US-Iran truce remains intact beyond nine weeks, the US Dollar held firm with DXY at $99.22. EUR/USD defended $1.1639 support while GBP/USD tested $1.3323 with buyer interest.
The Pound to Dollar (GBP/USD) exchange rate drifted lower last week as a series of stronger-than-expected US economic releases reinforced support for the US Dollar. At the time of writing, GBP/USD was trading around $1.3410, down roughly 0.3% over the week.
Intraday analysis covering GBPUSD pushes lower , NZDUSD , and NAS 100, highlighting recent price movements, key technical levels, and short-term momentum shifts across major markets. GBPUSD pushes lower Cable moved lower as the Dollar revival continued across the board.
The Pound to Euro (GBP/EUR) exchange rate posted modest gains last week as Sterling outperformed the single currency despite mixed economic data from both the UK and Eurozone. At the time of writing, GBP/EUR was trading around €1.1577, up roughly 0.3% over the week.