The week ends with GBP/USD down around -0.6%, reflecting a clear loss of short-term momentum in the pound sterling. At the same time, the US dollar is showing renewed stability and continues to hold a stronger demand bias against its main rivals.
As the US-Iran truce remains intact beyond eight weeks, the US Dollar held firm with DXY at $99.03. EUR/USD defended $1.1649 support while GBP/USD advanced to $1.3475 with buyer interest.
Pound Sterling Price News and Forecast: GBP/USD gains ground to near 1.3430 early European session
Discover the latest GBP to INR forecast and key technical levels. Stay informed on currency trends to make smarter financial decisions.
Michael Boutros, FOREX.com Senior Market Analyst, examines the British pound outlook as GBP/USD approaches a major resistance zone following three consecutive weeks of gains. He highlights key technical levels that could determine whether the broader uptrend resumes, while explaining why upcoming U.S. Non-Farm Payrolls and inflation data may prove decisive for the next move in the dollar and sterling.
Our last projection for GBPUSD still stands as the pair held above the support of 1.3280. GBPUSD managed to hold above the support of 1.3280 to rebound towards 1.3500 so far.
Oil prices are easing on Thursday, snapping a two-day winning streak, as the ceasefire agreement between Israel and Lebanon raises hopes that a broader deal to end the conflict in the Middle East could eventually be reached.
Pound Sterling Price News and Forecast: GBP/USD reverses a part of the overnight losses
The ongoing US-Iran ceasefire and gradual normalization of oil flows supported improved risk appetite. DXY showed bullish continuation in its ascending channel while EUR/USD tested key support and GBP/USD defended rising channel floor.
The US dollar is somewhat sideways in the early part of the Wednesday session, as the markets are starting to focus on the jobs report at the end of the week.
Our last projection for GBPUSD still stands as the pair held above the support of 1.3280. GBPUSD managed to hold above the support of 1.3280 to rebound towards 1.3500 so far.
As the US-Iran truce remains intact beyond eight weeks, the US Dollar firmed with DXY at $99.29. EUR/USD defended $1.1649 support while GBP/USD advanced to $1.3475 with buyer interest.