US dollar gains safe haven support as Iran tensions rise, while DXY weakens near 98 and GBP/USD and EUR/USD react to shifting central bank expectations.
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GBP/USD Price Forecast: Eyes nine-day EMA support near 1.3500
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The Pound to Dollar (GBP/USD) exchange rate advanced to a multi-day high at the start of the week as improving risk sentiment and dovish Federal Reserve expectations weighed on the US Dollar. At the time of writing, GBP/USD was trading around $1.3559, up 0.2% on the day.
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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.
The US Dollar finds support from Iran tensions and FOMC anticipation. Explore technical outlooks for EUR/USD and GBP/USD as central bank policy divergence grows.
The Pound to New Zealand Dollar (GBP/NZD) exchange rate saw volatile trade last week, dipping to a one-month low before recovering as mixed data and shifting risk sentiment drove movement. At the time of writing, GBP/NZD was trading around NZ$2.3011, broadly unchanged on the week.
On the hourly chart of GBP/USD at FXOpen, the pair remained well-bid above 1.3450. The British Pound started a decent increase above 1.3470 against the US Dollar.