On the hourly chart of GBP/USD at FXOpen, the pair remained well-bid above 1.3350. The British Pound started a decent increase above 1.3400 against the US Dollar.
Pound Sterling Price News and Forecast: GBP/USD jumps to near 1.3480 amid hopes of the US-Iran deal
GBP/USD Price Forecast: Extends recovery to near 20-EMA amid risk-on mood
Crude oil futures have been smoked on the open, sliding nearly 5% to the lowest level in a fortnight as traders continue to aggressively unwind geopolitical premium from energy markets.
GBP/USD's recovery was capped at 1.3462 last week. Initial bias remains neutral this week first.
Pound Sterling Price News and Forecast: GBP/USD outperforms Euro despite weak UK Retail Sales data
GBPUSD managed to hold above the support of 1.3280 to rebound towards 1.3462. As we see over the chart, the market is facing a daily trend support around 1.3280 which could lead to a rebound with resistance around 1.3630.
The US dollar continues to see strength, despite the fact that interest rates in the United States have drifted lower.
As the Middle East ceasefire holds steady and diplomatic talks progress, the US Dollar firmed with DXY climbing to $99.28. EUR/USD rejected $1.163 and GBP/USD defended rising channel floor at $1.3423.
British Pound: Sideways against US Dollar inside broader range – UOB
The Pound to Dollar (GBP/USD) exchange rate traded in a narrow range on Thursday as investors weighed a surprisingly weak UK services sector survey against signs that underlying inflation pressures remain elevated. At the time of writing, GBP/USD was trading around $1.3444, little changed on the day.
Pound Sterling Price News and Forecast: GBP/USD struggles to gain any meaningful traction