Pound Sterling Price News and Forecast: GBP/USD remains on the way to second weekly loss

FXStreet Team FXStreet

GBP/USD steadies around 1.3350 amid Brexit hopes, eyes on Ukraine, US NFP

GBP/USD bears took a breather around 1.3345-50 amid Brexit optimism during early Friday morning in Asia. Even so, the cable pair remains on the back foot for the second consecutive week as the US dollar cheers cautious mood in the market, mainly due to the Ukraine-Russia standoff and chatters over the Fed’s 0.50% rate hike in March.

GBP/USD

Overview
Today last price	1.3323
Today Daily Change	-0.0016
Today Daily Change %	-0.12
Today daily open	1.3339

Trends
Daily SMA20	1.3507
Daily SMA50	1.3526
Daily SMA100	1.3491
Daily SMA200	1.3658

Levels
Previous Daily High	1.3418
Previous Daily Low	1.3318
Previous Weekly High	1.3638
Previous Weekly Low	1.3273
Previous Monthly High	1.3644
Previous Monthly Low	1.3273
Daily Fibonacci 38.2%	1.3356
Daily Fibonacci 61.8%	1.338
Daily Pivot Point S1	1.3298
Daily Pivot Point S2	1.3258
Daily Pivot Point S3	1.3198
Daily Pivot Point R1	1.3399
Daily Pivot Point R2	1.3459
Daily Pivot Point R3	1.3499

GBP/USD Forecast: Technical outlook favors bears despite Wednesday's rebound

The British pound has capitalized on risk flows late Wednesday and the GBP/USD has managed to close in the positive territory. The souring market mood on Thursday is not allowing the pair to build on Wednesday's gains and the technical outlook shows that buyers are struggling to retain control of the action.

GBP/USD extends the drop to 1.3360

GBP/USD builds on Monday’s decline and briefly clinches five-day lows near 1.3360 on Tuesday. Cable’s extra pullback follows the better tone in the Greenback as uncertainty in the Middle East prompts investors to adopt a cautious stance. Meanwhile, an apathetic UK labour market report also collaborates with the selling pressure on the British Pound.

EUR/USD stays offered just above 1.1400

EUR/USD keeps the downtrend well in place for yet another day, challenging the 1.1400 contention zone on Tuesday. The continuation of the selling impulse in spot comes amid decent gains in the US Dollar, which continues to find support in the persistent effervescence surrounding the US-Iran crisis.

Middle East crisis intensifies, Gold up

Gold now seems to have embarked on a consolidative phase below the key $4,100 mark per troy ounce in the latter part of Tuesday’s session. Meanwhile, uncertainty surrounding the Middle East conflict and rising expectations for a hawkish Fed policy outlook are expected to limit the precious metal’s bullish momentum in the near term.

XRP rebounds on rising on-chain activity

Ripple (XRP) ticks up and trades around $1.13 at the time of writing on Tuesday. This rebound aligns with a broader recovery in the cryptocurrency market, attributed to reports that mediators between the United States (US) and Iran are seeking a 10-day cessation of strikes to find a way back to the signed Memorandum of Understanding (MoU).

The Iranian war has again risen

The Iranian war has again risen to the top of the economics factor list. There is no end in sight. Intelligence experts say the current level of offense/retaliation will not change minds in Tehran, while in Washington, Trump fears all-out war, which would mean boots on the ground.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.