GBP/USD: 1.3600 back on sight ahead of US CPI?

Underpinned by USD weakness, oil-price rally.
Brexit fears continue to loom.
Eyes US CPI and retail sales for fresh impetus.

Dhwani Mehta FXStreet

The GBP/USD pair extended its rebound from eight-day troughs and went to hit fresh three-day highs at 1.3565 in the Asian trades, before easing back near the midpoint of the 1.35 handle, as we progress towards the early European trading.

GBP/USD wavers around 5 & 10-DMA confluence near 1.3550

The bulls were rescued a day before after the US dollar slumped across the board on the back of a major rally staged by EUR/USD on hawkish ECB minutes. Moreover, worse-than-expected US PPI numbers also added to the weight on the greenback, boosting the rebound in GBP/USD back above 1.3550 levels.

The pair built on yesterday’s recovery gains this Friday, but further upside stalled amid a retreat in oil prices and mixed Asian equities, which dented the appetite for risky currencies such as the GBP. Also, looming concerns over the Brexit talks, with markets viewing that thing will get more difficult going forward, keep a lid on the prices.

In the day ahead, the UK docket remains data-empty once again and hence, all eyes remain on the US CPI and retail sales data for the next direction.

GBP/USD Technical Levels

Valeria Bednarik, Chief Analyst at FXStreet, writes: “Dollar's weakness prevents the pair from plummeting, but the potential upward remains limited, with only a steady recovery above 1.3612, this year high, favoring a more sustainable advance ahead. Support levels: 1.3520 1.3475 1.3430. Resistance levels: 1.3560 1.3590 1.3615.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

AUD/USD falls hard to test 0.7100 amid risk aversion

AUD/USD is under intense selling pressure in Friday's Asian trading, attacking the 0.7100 level. Broad risk-aversion amid US-Iran uncertainty, combined with weak Australian GDP data, weighs heavily on the higher-yielding Australian Dollar. All eyes now remain on the US NFP report for fresh impetus.

USD/JPY coiling up around 160.00 amid 'Yentervention' threats

USD/JPY sits glued near 160.00 in Asia on Friday, as the Japanese Yen remains supported by persistent 'Yentervention' threats by Japan's officials. However, the pair's downside remains capped by the Mideast tensions-led risk-off mood and the US Dollar's bullish consolidation.

Gold drops back toward $4,400 on US-Iran standoff, US NFP eyed

Gold price returns to the red and approaches $4,400 in the Asian session on Friday. The precious metal remains volatile amid ongoing geopolitical turmoil. Traders will closely monitor the developments surrounding the US-Iran peace deal and the US May employment report later on Friday.

DeFi hack losses drop 80% from 2022 peak as security defenses improve — Immunefi

Losses from decentralized finance exploits have fallen by 80% since reaching a record high in 2022, according to a report released by Immunefi. The report, which analyzed exploit-driven losses across major blockchain ecosystems between 2020 and 2025, found that DeFi protocol losses declined from $2.62 billion in 2022 to $534 million in 2024.

Nonfarm payrolls: Testing the limits of Fed policy patience

The upcoming nonfarm payrolls report for May will provide the final update on the US labor market before Kevin Warsh attends his first policy meeting as the new Fed Chair later this month.

Recession on paper: What really moves the Canadian Loonie now?

Statistics Canada handed the headline writers a gift and the analysts a headache. Real GDP shrank 0.1% on an annualized basis in the first quarter, and with the fourth quarter of 2025 revised down to a 1.0% contraction, that is two negative quarters in a row, the textbook definition of a technical recession and Canada's first since the pandemic.