Pound Sterling Price News and Forecast: GBP/USD attracts some sellers amid Hormuz risks
Pound Sterling remains depressed vs USD; GBP/USD holds above 1.3400 as traders await US CPI
GBP/USD grinds higher but 1.3450 resistance refuses to budge
The Pound US Dollar (GBP/USD) exchange rate traded in a narrow range on Thursday as markets adopted a cautious tone amid uncertainty over the durability of the US-Iran ceasefire. Latest — Exchange Rates:Pound to Dollar (GBP/USD): 1.34466 (+0.4%)Euro to Dollar (EUR/USD): 1.17103 (+0.44%)Dollar to Japanese Yen (USD/JPY): 158.745.
The Pound to Dollar (GBP/USD) exchange rate jumped to highs just above 1.3480 on Wednesday following the announcement of a US-Iran cease-fire and, although there has been a retreat, it is still trading above the 1.3400 level. Scotiabank notes there is a high degree of uncertainty in the short-term.
GBP/USD tops 1.3400 as fragile truce keeps Sterling bid aloft now
GBP/USD: Recovery holds with upside targets – Scotiabank
EUR/GBP: Sterling faces downside risks – ING
GBP/USD: Upside risk hinges on 1.3480 close – UOB
The US Dollar Index (DXY) hovers at a critical $99.00 pivot as geopolitical risk premiums evaporate. Discover why EUR/USD is holding strong above the $1.1650 zone.
The pair rebounded and hit the target of 1.3485. As we see over the previous chart, the resistance of 1.3485 could lead to a drop as the first support at 1.3300-15 could push again for another advance.
Pound Sterling Price News and Forecast: GBP/USD surges as Iran truce dents US Dollar broadly