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.
GBP/USD is falling on Monday as the US dollar strengthens on renewed geopolitical tensions, while mounting political pressure on Keir Starmer weighs on sterling.
On the hourly chart of GBP/USD at FXOpen, the pair started a fresh decline from 1.3635 after a decent increase. The British Pound traded below 1.3600 to again move into a short-term bearish zone against the US Dollar.
Intraday bias in GBP/USD remains neutral as sideway trading continues. Further rise is expected with 1.3453 support intact.
Pound Sterling Price News and Forecast: GBP/USD attracts some dip-buying at the start of a new week
GBP/USD Price Forecast: Sticks to negative bias below 1.3600 as Iran tensions underpin USD