British Pound picks up above 1.3200 with the YTD lows of 1.3140 close by
The British Pound (GBP) is trading higher against the US Dollar (USD) for the second consecutive day on Friday, as the US Dollar’s rally faltered, with Oil prices returning to pre-war levels. The GBP/USD pair has returned to levels above 1.3200, turning positive in the weekly chart, but the broader bearish trend remains in play.
Market sentiment has improved somewhat as Crude prices declined to levels before the US-Israel attack on Iran on February 28, which has undermined demand for the safe-haven US Dollar and provided some relief to riskier assets like the Sterling. Read more…
GBP/USD Price Forecast: Struggles to build on move beyond 1.3200 amid bearish setup
The GBP/USD pair sticks to its positive bias for the second straight day, though it lacks bullish conviction and trades just above the 1.3200 mark during the early European session on Friday. The US Dollar (USD) remains depressed below its highest level since May 2025, touched on Thursday, and acts as a tailwind for spot prices.
However, the UK political crisis holds back traders from placing aggressive bullish bets around the British Pound (GBP) and caps the upside for the GBP/USD pair. Furthermore, a bearish technical setup warrants caution before positioning for any meaningful recovery from the 1.3140 area, or the lowest since November, set on Wednesday. Read more…
GBP/USD ends the month with Its worst performance in a year
The GBP/USD pair continued to decline against the US dollar on Friday and is set to close June with its worst monthly performance since July last year, trading near 1.3182. Since the start of the month, sterling has lost around 2.2%. Current levels are the lowest since November last year.
Several factors are weighing on the British currency. First, lower oil prices following the easing of tensions between the US and Iran have reduced inflation risks and lowered the likelihood of more aggressive rate hikes by the Bank of England. The market now expects only one rate increase before the end of the year, compared with two that were priced in just a few weeks ago. Read more…
