GBPUSD managed to pass above the resistance of 1.3485 to meet the first target at 1.3580. As we see over the chart, the market is facing the first support zone at 1.3485, where if prices remain above it, more advance will be expected with resistances at 1.3580 and 1.3710-35.
Reduced geopolitical tensions are weighing on the Dollar as investors rotate into riskier currencies. DXY remains capped inside a descending channel near $98.26, EUR/USD grinds higher above $1.174, and GBP/USD defends key support.
GBPUSD is losing ground below the 1.3600 handle, eyeing support at the medium‑term ascending trendline. The pound is under pressure against the dollar amid domestic political uncertainty, lingering Middle East tensions, and ahead of key US CPI data.
Pound Sterling Price News and Forecast: GBP/USD loses traction to around 1.3590
In this webinar we take an in-depth look at the technical trade levels for the US Dollar (DXY), Euro (EUR/USD), British Pound (GBP/USD), Australian Dollar (AUD/USD), Canadian Dollar (USD/CAD), Japanese Yen (USD/JPY), Swiss Franc (USD/CHF), Gold (XAU/USD), Crude Oil (WTI), and Bitcoin (BTC/USD), and S&P 500 (SPX500), Nasdaq (NDX), and Dow Jones (DJI). These are the levels that matter on the technical charts into the weekly open.
Pound Sterling Price News and Forecast: GBP/USD steadies as Starmer ouster fears rock UK Gilts
The US dollar is a touch softer in the early part of the Monday session, as traders continue to watch the Middle East.
GBPUSD managed to pass above the resistance of 1.3485 to meet the first target at 1.3580. As we see over the chart, the market is facing the first support zone at 1.3485, where if prices remain above it, more advance will be expected with resistances at 1.3580 and 1.3710-35.
Soft jobs data combined with ceasefire stability is weighing on the Dollar. DXY holds inside a descending channel while EUR/USD and GBP/USD maintain bullish structures with higher lows.
British Pound recovers further vs USD; GBP/USD holds near daily peak, above 1.3600
The Pound to Australian Dollar (GBP/AUD) exchange rate drifted lower last week as UK political uncertainty and rising bond yields weighed on Sterling sentiment. At the time of writing, GBP/AUD was trading around AU$1.8798, down roughly 0.3% on the week.
The Pound to Canadian Dollar (GBP/CAD) exchange rate climbed to a multi-week high last week as falling oil prices weighed heavily on the commodity-linked ‘Loonie'. At the time of writing, GBP/CAD was trading around CA$1.8645, up roughly 1% on the week.