Pound Sterling Price News and Forecast: GBP/USD remains in negative territory on renewed US–Iran tensions
COT positioning suggests a shift is underway in FX markets. While the US dollar's rally shows signs of topping, traders are rotating into EUR and GBP, with commodity currencies lagging despite recent strength.
Optimism over a looming peace deal between the United States and Iran has been shoved back in the box in early Asian trade on Monday, with a fresh deterioration in the backdrop helping unwind part of Friday's move, including in EUR/USD and GBP/USD.
The GBP/USD finished this past week of trading near the 1.35177 ratio, this after testing a high within the 1.36000 vicinity earlier on Friday.
The Pound to Dollar (GBP/USD) exchange rate found support below 1.32 in early April and has rallied strongly to above 1.35, recouping Iran-related losses as the dollar has lost ground. Risk appetite has also recovered which has helped underpin the Pound.
GBP/USD nears 1.3600 as Hormuz reopening dents US Dollar
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.
GBP/USD: Fading momentum caps Pound strength – UOB
The US Dollar Index (DXY) sinks toward $98.10 as President Trump's optimism over a US-Iran peace deal cools safe-haven demand. Discover the next technical targets for EUR/USD and GBP/USD.
EUR/GBP: Upside bias with UK risks – BBH
GBP/USD Price Forecast: 50% Fibo retracement near 1.3500 acts as key support zone
GBP/USD: Gains capped as BoE stresses no urgency – DBS