Pound Sterling Price News and Forecast: GBP/USD may find the primary barrier at the two-month high

GBP/USD Price Forecast: Falls toward 1.3500 near nine-day EMA support

GBP/USD inches lower after registering modest gains in the previous day, trading around 1.3520 during the Asian hours on Tuesday. The technical analysis of the daily chart indicates an ongoing bullish bias, as the pair moves within the ascending channel pattern.

The GBP/USD pair trades with a mildly bullish near-term bias, holding above both the nine-period and 50-period Exponential Moving Averages (EMAs). The short-term EMA trading above the longer one hints at constructive momentum. Read more…

GBP/USD holds above 1.35 as Iran deadline and UK data wave loom

GBP/USD advanced 0.1% on Monday, trading around 1.3530 after pulling back from last week’s peak near 1.3600. The pair has spent recent sessions consolidating between 1.3500 and 1.3600, with small-bodied daily candles pointing to hesitation following the strong recovery from early April lows close to 1.3160. Bullish momentum has cooled at the top of the range.

The Iran story remains the dominant macro driver this week, with the two-week US-Iran ceasefire set to expire Wednesday night and President Trump publicly calling an extension “highly unlikely.” The US seizure of an Iranian cargo ship in the Gulf of Oman over the weekend pushed tensions to the brink, prompting Iran’s Revolutionary Guard to threaten retaliation and reassert closure of the Strait of Hormuz until the US naval blockade is lifted. Even so, markets remain reluctant to price the downside: West Texas Intermediate futures jumped more than 6% to $89 a barrel overnight, yet equity futures firmed and the US Dollar broadly softened on the view that another ceasefire extension will ultimately materialize. Read more…

GBP/USD rebounds toward 1.3530 as US Dollar eases after recent surge

GBP/USD recovers some ground after opening the week on a lower note, despite escalating tensions in the Middle East as the US seized an Iran-flagged vessel. At the same time, Tehran threatened to halt talks in Pakistan. The pair trades at 1.3525, up 0.13%.

The US-Iran conflict is grabbing the attention as tensions boiled over the weekend, as Iran demanded that Washington end the blockade in the Strait of Hormuz. Consequently, Cable gapped down, opening the week at around 1.3480, but it has recovered some ground as the Greenback edges lower, some 0.05% according to the US Dollar Index (DXY). Read more…