British Pound: Range trading with soft tone against US Dollar – UOB
Pound Sterling Price News & Forecast: GBP/USD stays calm amid safe-haven support
The Pound to Dollar (GBP/USD) exchange rate traded with a modestly positive bias on Tuesday as improving Middle East peace hopes reduced demand for the safe-haven US Dollar. At the time of writing, GBP/USD was trading around $1.3476, up almost 0.2% on the day.
Pound Sterling Price News & Forecast: GBP/USD gains as softer Oil offsets resilient US jobs data
The Pound to Dollar (GBP/USD) exchange rate has been on the defensive over the past few weeks, but is trading around 1.3450 after finding support close to 1.33 in the middle of the month. UBS notes immediate political risks for the Pound, but considers that the currency is undervalued and under-owned by global investors.
GBP/USD has recovered from the sharp pullback that followed the failed breakout attempt in May, with price now testing a critical resistance zone near the yearly open. The rebound has improved near-term momentum and returned Sterling to a key technical inflection point, where the next move could determine whether the broader uptrend resumes or the recovery stalls within a larger corrective decline.
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.
British Pound: Range trading persists against US Dollar – UOB
GBP/USD showed little movement on Tuesday, holding steady at 1.3453. The pound remains within its established trading range as investors continue to assess the progress of negotiations between the US and Iran and their potential impact on the global economy.
The divergence in the monetary policy paths of the ECB and the Bank of England is creating a mixed outlook for the pair. Having completed a cycle of eight consecutive rate cuts in 2025, the ECB left its deposit rate unchanged at 2.0% at its April meeting.
As the US-Iran truce remains intact beyond eight weeks, the US Dollar held firm with DXY at $99.06. EUR/USD defended $1.1649 support while GBP/USD advanced to $1.3478 with buyer interest.
The Pound to Australian Dollar (GBP/AUD) exchange rate edged higher on Monday as stronger UK manufacturing data and weaker Chinese factory figures weighed in favour of Sterling. At the time of writing, GBP/AUD was trading around AU$1.8754, up roughly 0.2% on the day.