Pound Sterling Price News & Forecast: GBP/USD posts modest gains near 1.3460

British Pound nudges higher as traders await progress on Middle East peace talks

The GBP/USD pair trades in positive territory around 1.3460 during the Asian trading hours on Tuesday. However, renewed tensions in the Middle East might cap the upside for the major pair as Iran has reportedly withdrawn from negotiations with the US. Traders will closely monitor the developments surrounding Middle East peace talks.

Iran’s state media said Tehran on Monday had suspended talks over Israel’s actions in Lebanon. Separately, US President Donald Trump stated that he believes an agreement to reopen the Strait of Hormuz and extend the ceasefire with Iran is reachable “over the next week.” Mixed signals and uncertainty in the Middle East could boost a safe-haven currency such as the Greenback and create a headwind for the major pair in the near term. Read more...

British Pound sits out its own week, hostage to US payrolls

Pound Sterling has the rare luxury, or curse, of a completely blank week. There is no first-tier United Kingdom data on the docket, no Bank of England (BoE) event, nothing for the Pound to trade on its own merits. That makes GBP/USD the cleanest US Dollar expression among the major pairs right now: whatever the Dollar does into Friday's payrolls, Sterling will simply mirror it in reverse. On Monday that translated into a flat, range-bound session around 1.3450, with the pair pinned almost exactly on its daily 50-period Exponential Moving Average (EMA).

It is tempting to read the quiet as stability, but it is really just an absence of catalysts. GBP/USD has spent weeks chopping between the 1.3400 handle and 1.3500, and Monday did nothing to change that. The intraday dip toward 1.3400 was bought, the recovery to 1.3450 stalled, and the daily Stochastic Relative Strength Index (Stoch RSI) sits in the lower half of its range, neither oversold nor offering any signal. With the 50 EMA near 1.3450 and the 200 EMA close to 1.3400, the Pound is wedged between its own moving averages, waiting for someone else's data to break the deadlock. Read more...

British Pound holds firm as US-Iran tensions boost Greenback

The Pound Sterling (GBP) steadies on Monday agains the US Dollar (USD) as speculation of a peace deal between the US and Iran fades, following weekend exchanges of fire that are a headwind for GBP/USD, which trades near 1.3445 at the time of writing.

Market mood shifted neutrally after an upbeat close last week. Negotiations between the US and Iran seem to have halted as “Iran stops exchanging messages with the US in protest against Zionist crimes,” reported Tasnim news agency. Iranian state TV reported that the probability of the ceasefire ending between both parties is high if Israel’s attacks on Lebanon don’t stop. Read more...