GBP/USD fell to around 1.3530 early Friday as escalating tensions in the Middle East supported demand for the US Dollar. Israel’s preemptive strike on Iran raised fears of retaliation, with Iranian officials warning of severe consequences for both the US and Israel, pressuring risk-linked currencies like the Pound. However, weaker US PPI data limited further USD strength. May’s PPI increased just 0.1%, below the 0.2% forecast, while the core PPI also came in softer. Attention now turns to the upcoming Michigan consumer sentiment report.
Resistance is at 1.3600, with support around 1.3425.
Resistance is at 1.3600, with support around 1.3425.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.