GBP/USD Price Forecast: Bulls likely to target 1.3600 as USD weakens on US-Iran peace hopes
The GBP/USD pair attracts some dip-buyers in the vicinity of the 1.3500 psychological mark and climbs to over a one-week top during the Asian session on Monday. Spot prices currently trade just below mid-1.3500s, up 0.10% for the day, and seem poised to appreciate further.
  • GBP/USD turns positive for the second straight day as US-Iran peace hopes undermine the USD.
  • The divergent Fed-BoE policy expectations turn out to be another factor supporting spot prices.
  • The technical setup favors bullish traders and backs the case for further near-term appreciation.

The GBP/USD pair attracts some dip-buyers in the vicinity of the 1.3500 psychological mark and climbs to over a one-week top during the Asian session on Monday. Spot prices currently trade just below mid-1.3500s, up 0.10% for the day, and seem poised to appreciate further.

The US Dollar (USD) turns lower in reaction to the optimism led by reports that Iran gave the ‌US a new proposal on the reopening of the Strait of Hormuz and the ending of the war. Furthermore, sliding Oil prices ease inflationary concerns and temper hawkish US Federal Reserve (Fed) expectations, which exerts additional pressure on the USD and acts as a tailwind for the GBP/USD pair. Apart from this, bets for further policy tightening by the Bank of England (BoE) this year underpin the British Pound (GBP) and validate the positive outlook for the currency pair.

The recent corrective pullback from the 1.3600 neighborhood, or a two-month peak, stalled ahead of a confluence comprising the 200-day Simple Moving Average (SMA) and the 38.2% Fibonacci retracement level of the January-March downfall. The subsequent move up beyond the 50% retracement level reaffirms the constructive outlook. Moreover, the Relative Strength Index (RSI) is near 59 and the Moving Average Convergence Divergence (MACD) is in positive territory, hinting that buyers still retain control even as the advance begins to slow.

Initial resistance is seen at a structural standpoint near the 61.8% Fibo. retracement at 1.3608, which guards a deeper extension toward the recent swing highs. On the downside, the 50.0% retracement at 1.3523 is the first line of support, followed by the 38.2% level at 1.3437 and then the 23.6% retracement at 1.3332, with the 1.3161 area acting as a more distant structural floor if the broader pullback extends.

(The technical analysis of this story was written with the help of an AI tool.)

GBP/USD daily chart

Chart Analysis GBP/USD

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Swiss Franc.

USD EUR GBP JPY CAD AUD NZD CHF
USD -0.08% -0.10% -0.11% -0.05% -0.33% -0.19% -0.05%
EUR 0.08% -0.01% -0.04% 0.03% -0.22% -0.09% 0.03%
GBP 0.10% 0.00% -0.02% 0.04% -0.24% -0.12% 0.04%
JPY 0.11% 0.04% 0.02% 0.08% -0.22% -0.10% 0.10%
CAD 0.05% -0.03% -0.04% -0.08% -0.28% -0.16% 0.00%
AUD 0.33% 0.22% 0.24% 0.22% 0.28% 0.14% 0.28%
NZD 0.19% 0.09% 0.12% 0.10% 0.16% -0.14% 0.15%
CHF 0.05% -0.03% -0.04% -0.10% -0.00% -0.28% -0.15%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

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실시간 시세

이름 / 기호
차트
% 변동 / 가격
GBPUSD
1일 변동
+0%
0
EURUSD
1일 변동
+0%
0
USDJPY
1일 변동
+0%
0

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