GBP/USD Price Forecast: Bulls seize control as USD plummets on US-Iran ceasefire
The GBP/USD pair prolongs its uptrend for the third consecutive day and rallies to over a two-week top on Wednesday, with bulls now looking to build on the momentum further beyond the 200-day Simple Moving Average (SMA). The US Dollar (USD) slumps to a nearly one-month low during the first half of the European session amid hopes for an end to the Middle East war and turns out to be a key factor acting as a tailwind for the currency pair.
US President Donald Trump announced in a post on Truth Social that he will suspend planned military strikes against Iran for two weeks. Iran also signaled a conditional willingness to de-escalate tensions, provided attacks against the country are halted. The positive development boosted investors’ sentiment, sending the safe-haven Greenback tumbling lower and assisting the GBP/USD pair in building on this week’s rise from the 1.3175 region. Read more…
GBP/USD Price Forecast: Reclaims two-week high around 1.3445 as sentiment improves
The Pound Sterling surges against the US Dollar (USD) on Wednesday as the market sentiment turns favorable for riskier assets, is up 1% to near 1.3445 during the early European session. The announcement by United States (US) President Donald Trump that he has suspended planned attacks on Iran’s power plants, following Tehran’s agreement to reopen the Strait of Hormuz for two weeks, has boosted the risk-on impulse.
S&P 500 futures gain over 2.7% in the European trade, reflecting strong demand for risk-sensitive assets. The US Dollar Index (DXY), which tracks the greenback’s value against six major currencies, trades 0.75% lower to near 98.75. Read more…
Source: https://www.fxstreet.com/news/pound-sterling-price-news-and-forecast-gbp-usd-bulls-seize-control-202604081113
