Pound Sterling Price News & Forecast: GBP/USD gains as softer Oil offsets resilient US jobs data

FXStreet Team FXStreet

British Pound climbs as Trump eases tensions, lifting risk mood

The Pound Sterling (GBP) rises by about 0.19% on Tuesday against the US Dollar (USD) as traders remain optimistic about a peace deal between the US and Iran despite ongoing geopolitical uncertainty. The GBP/USD pair trades at around 1.3470 after bouncing off daily lows of 1.3446.

The financial markets remain focused on geopolitics. The intervention by US President Donald Trump in the Israel-Hezbollah conflict tempered investors' fears, which are driving US equity markets to retest all-time highs. Therefore, Oil prices fell, as shown by the US crude Oil benchmark, the West Texas Intermediate (WTI), which was down 0.40% at $92.07. Read more...

British Pound: Outlook shifts from bearish to neutral – OCBC

OCBC's strategists Sim Moh Siong and Christopher Wong shift their British Pound (GBP) view from bearish to neutral, citing easing fiscal concerns and attractive carry that have helped GBP recover from early May losses. Despite soft United Kingdom (UK) data and ongoing political risks, including potential Labour leadership changes, the bank expects stretched short positioning and possible lower Oil prices to limit GBP downside.

"We shift from bearish to neutral on the GBP and revise our end-2026 EUR/GBP forecast to 0.87 from 0.89." Read more...

British Pound holds gains as US Dollar weakens on easing risk aversion

GBP/USD gains ground after registering minor losses in the previous day, trading around 1.3470 during the European hours on Tuesday. The pair appreciates as the US Dollar (USD) loses ground on easing risk aversion due to a partial ceasefire between Hezbollah and Israel.

US President Donald Trump announced on social media on Monday that Israel has agreed to pull back any troops that were preparing to attack Beirut and its suburbs controlled by Hezbollah. Furthermore, Trump also communicated with Iran-aligned Lebanese militant group Hezbollah through intermediaries and secured a pledge that it would not attack Israel. Read more...

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