GBP/USD fell to around 1.3405 during Monday’s Asian session as safe-haven flows strengthened the US dollar amid rising Middle East tensions. Fears of Iranian retaliation after US airstrikes on three nuclear sites lifted demand for the Greenback. Trump said Iran’s facilities were “totally obliterated” and warned of stronger attacks unless peace is reached. Iran vowed to respond, saying it “reserves all options.”
Investors await June PMI data from the UK and US due later Monday. The Pound remains under pressure after UK retail sales dropped 2.7% MoM in May, well below the expected 0.5% decline and April’s revised 1.3% gain.
The BoE held rates at 4.25% last Thursday. Governor Bailey said rates are on a gradual downward path but warned of global unpredictability. Reuters expects 25 bps cuts in both August and Q4.
Resistance is seen at 1.3500, while support holds at 1.3415.
Investors await June PMI data from the UK and US due later Monday. The Pound remains under pressure after UK retail sales dropped 2.7% MoM in May, well below the expected 0.5% decline and April’s revised 1.3% gain.
The BoE held rates at 4.25% last Thursday. Governor Bailey said rates are on a gradual downward path but warned of global unpredictability. Reuters expects 25 bps cuts in both August and Q4.
Resistance is seen at 1.3500, while support holds at 1.3415.
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Disclaimer
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.