Pound Sterling Price News and Forecast: GBP finds footing at 1.3420

FXStreet Team FXStreet

British Pound finds footing at 1.3420 with markets awaiting US Job Openings data

The British Pound (GBP) edges higher against the US Dollar (USD) on Tuesday, reaching session highs above 1.3440 after finding support at the 1.3420 area earlier on the day. A mild risk appetite amid market hopes of a negotiated breakthrough in Iran and investors’ cautiousness ahead of key US labour market releases are keeping US Dollar bulls subdued on Tuesday.

A tense calm holds for the second consecutive day in Iran, with news from the conflict showing contradictory versions. US President Donald Trump affirmed that this is Tehran’s last chance to sign a good deal with the United States, but Iranian authorities have denied any talks with US negotiators and reiterated their threats to strike the US Navy if the blockade on Iran continues. Read more...

GBP/USD under pressure: Pound lags behind peers

GBP/USD held steady at 1.3426 on Tuesday, with the pound lagging behind other currencies despite a broader decline in the dollar.

Market sentiment improved following a drop in oil prices, as investors grew hopeful that the US and Iran may reach an agreement to restore shipping through the Strait of Hormuz. Such a development would reduce inflation risks and the likelihood of further rate hikes. Read more...

GBP/USD Price Forecast: Downward-sloping trendline near 1.3470 remains key barrier

The British pound (GBP) faces selling pressure against its major currency peers, trading 0.1% lower at around 1.3420 against the US Dollar (USD) during the European trading session on Tuesday.

Analysts at Rabobank highlight that “GBP net shorts bounced higher last week ahead of the BoE policy meeting,” underscoring renewed speculative pressure on the Pound. They note that, “despite a more hawkish voting split than the market had expected from the MPC, Governor Bailey’s tone was dovish,” which in their view “suggest[ed] little support for the pound from the BoE.” This combination of positioning and communication leaves Sterling lacking clear policy backing despite the ostensibly firmer stance implied by the vote split. Read more...

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GBP/USD: Downward-sloping trendline near 1.3470 remains key barrier

The British pound faces selling pressure against its major currency peers, trading 0.1% lower at around 1.3420 against the US Dollar during the European trading session on Tuesday.

Euro defends 1.1500 level ahead of US data

EUR/USD struggles to make a decisive move in either direction and trades in a tight channel above 1.1500 on Tuesday. Investors cling to a cautious stance amid the uncertainty surrounding the situation in the Middle East and help the USD stay resilient against its rivals, limiting the pair's upside ahead of the next batch of US data.

Aave: Bearish RSI divergence risks a 20% drop despite steady DeFi deposits

Aave (AAVE) extends a mild near-term recovery on Tuesday, holding above its 50-day Exponential Moving Average at $90.80. Aave protocol’s V3 deployment on Monad blockchain recorded over $500 million in deposits over the last month, reflecting increased user adoption.

US JOLTs report in focus

In the US, the June JOLTs report will be in the spotlight. Job openings have increased modestly this year, which has historically predicted rising wage cost pressures ahead. June trade balance data will also be released in the afternoon and the preliminary reading pointed towards a stable trade deficit from May. The Fed's Schmid (non-voter, hawk) will be on the wires overnight.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.