Pound Sterling Price News and Forecast: GBP/USD climbs as US-Iran peace hopes weaken 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.
With geopolitical risks fading, investors rotate out of the US Dollar into EUR and GBP. DXY slides along its descending trendline while EUR/USD shows resilience at $1.177 and GBP/USD rides higher inside its blue channel.
Intraday analysis covering GBPUSD, AUDUSD, and NAS 100 breaks Resistance, focusing on short-term price action, key support and resistance levels, and intraday market momentum across major instruments. GBPUSD hits double top Sterling fell lower as the dollar regained some momentum after the pair hit a firm double top.
Pound Sterling Price News and Forecast: GBP/USD may face initial resistance at the 11-week high
GBP/USD Price Forecast: Holds gains near 1.3600 as bullish bias prevails
GBP/USD hesitates with NFP and UK construction PMI in focus
The Pound to New Zealand Dollar (GBP/NZD) exchange rate fell sharply on Wednesday as improving risk sentiment boosted demand for the risk-sensitive ‘Kiwi'. At the time of writing, GBP/NZD was trading around NZ$2.2847, down roughly 0.7% on the day.
GBP/USD is testing a breakout above a key resistance zone after rebounding more than 3.6% from the yearly low. This marks the first meaningful challenge for the April advance, with fading momentum raising the risk of a failed move.
Pound Sterling Price News and Forecast: GBP/USD advances as US Dollar softens on US-Iran talks
GBP/USD advances as US Dollar softens on US-Iran talks, risk-on mood
GBP/USD is gaining ground amid a weaker U.S. dollar amid renewed hopes for a U.S.-Iran peace deal, despite some caution ahead of tomorrow's UK local elections.