Pound Sterling Price News and Forecast: GBP/USD reverses a part of the overnight losses

FXStreet Team FXStreet

British Pound edges higher vs softer USD; lacks bullish conviction as Iran risks persist

The GBP/USD pair attracts some dip-buyers following the previous day's slide back closer to the weekly low and trades above the 1.3400 mark during the Asian session on Thursday. The uptick is sponsored by a softer US Dollar (USD), though the upside potential seems limited amid persistent geopolitical uncertainties.

In a joint statement with the US on Wednesday, Israel and Lebanon announced they agreed to the implementation of a ceasefire after peace talks in Washington. The latest development eases concerns about a broader regional conflict and keeps a lid on the safe-haven USD's move higher witnessed since the beginning of this week. This, in turn, is seen as a key factor offering some support to the GBP/USD pair. However, renewed hostilities in the Gulf keep geopolitical risks in play and should limit deeper USD losses, warranting caution before placing aggressive bullish bets on the currency pair. Read more...

British Pound buckles as Hormuz attacks spark US Dollar rush

The Pound Sterling (GBP) drops by 0.28% during the North American session on Wednesday as the US and Iran exchange attacks, while data in the US showed that the labor market remains solid and that business activity expanded but is slowing. At the time of writing, the GBP/USD pair trades at 1.3426 after reaching a daily high of 1.3471.

Overnight, the US military carried out attacks near the Strait of Hormuz, while Tehran attacked US Gulf allies, Kuwait, the UAE and Saudi Arabia. Iran reported that the US attacked Qeshm Island and, as retaliation, the Islamic Revolutionary Guard Corps (IRGC) launched strikes on US bases, warning that additional attacks would be met with a seismic, crushing and decisive response. Read more...

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Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

GBP/USD drops to multi-week lows below 1.3300

GBP/USD sets aside Friday’s uptick and breaches below the 1.3300 yardstcik on Monday to hit new multi-week troughs. Falling crude oil prices following a pause in the Middle East conflict in combination with the recent soft reading in UK inflation appear to play against any BoE tightening ahead of the bank’s event later in the week.

EUR/USD meets support near 1.1370

EUR/USD fades the initial bull run past 1.1400 the figure, deflating toward the 1.1370 zone on Monday. That said, the pair reverses two daily drops in a row on the back of the irresolute price action in the US Dollar, at the time when investors continue to closely follow developments from the Middle East conflict. Next on tap is the release of the US Consumer Confidence gauge by the Conference Board.

Gold struggles to extend gains beyond $4,100

Spot Gold gapped higher at the beginning of the new week, as a pause in Middle East hostilities underpinned the mood and weighed on the US Dollar (USD). The XAU/USD pair traded as high as $4,116.20 during Asian trading hours, following a pause in strikes between Iran and the United States (US).

Bitcoin vs Gold: BTC and Gold struggle to gain momentum despite US-Iran truce

Market participants are changing gears on Monday from the war between the United States (US) and Iran in the Middle East to the anticipated Federal Reserve (Fed) interest rate decision. Meanwhile, Bitcoin (BTC) and Gold (XAU) are losing momentum, with BTC slipping below the pivotal $65,000 level while XAU remains sideways in the $4,000-$4,100 range.

Pause in military action fails to inspire market rally

More tech volatility has outweighed the impact of the pause in US-Iran fighting, says Chris Beauchamp, Chief Market Analyst at online trading and investing platform IG. When a calming of Middle Eastern hostilities fails to provoke a major up day in stocks, you know there is more trouble ahead.

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.