- The Pound Sterling underperforms against the US Dollar amid the risk-off market mood.
- The war in the Middle East has improved the safe-haven demand of the US Dollar.
- Investors await the US CPI and the UK GDP data.
The Pound Sterling is down 0.5% to near 1.3350 against the US Dollar (USD) during the European trading session on Monday. The GBP/USD pair tumbles as the US Dollar (USD) outperforms its peers, with demand for safe-haven assets remaining firm, amid war in the Middle East between the United States (US), Israel, and Iran.
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 Euro.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.63% | 0.50% | 0.41% | -0.19% | 0.41% | 0.26% | 0.26% | |
| EUR | -0.63% | -0.13% | -0.18% | -0.81% | -0.22% | -0.36% | -0.36% | |
| GBP | -0.50% | 0.13% | -0.08% | -0.68% | -0.09% | -0.24% | -0.24% | |
| JPY | -0.41% | 0.18% | 0.08% | -0.60% | -0.01% | -0.16% | -0.16% | |
| CAD | 0.19% | 0.81% | 0.68% | 0.60% | 0.60% | 0.45% | 0.45% | |
| AUD | -0.41% | 0.22% | 0.09% | 0.00% | -0.60% | -0.14% | -0.15% | |
| NZD | -0.26% | 0.36% | 0.24% | 0.16% | -0.45% | 0.14% | 0.00% | |
| CHF | -0.26% | 0.36% | 0.24% | 0.16% | -0.45% | 0.15% | -0.01% |
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).
As of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.5% higher to near 99.35.
The outlook of the US Dollar remains firm as the war in the Middle East could escalate further, following the announcement of Mojtaba Khamenei as Iran’s new Supreme Leader. US President Donald Trump said last week that the choice for Iran’s new supreme leader would be “unacceptable”, and he intends to pick a new one for them.
On the macroeconomic front, investors await the US Consumer Price Index (CPI) data for February, which will be released on Wednesday. In the United Kingdom (UK), investors will focus on the monthly Gross Domestic Product (GDP) and the factory data for January, which is scheduled on Friday.
GBP/USD technical analysis
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GBP/USD trades sharply lower at around 1.3350 as of writing. The near-term bias is bearish as spot holds below the 20-day exponential moving average, which is around 1.3466 and capping rebounds.
The 14-day Relative Strength Index (RSI) slides to near 35.00, confirming a downside momentum after failing to sustain earlier recoveries, keeping sellers in control while the pair trades beneath the recent cluster of short-term averages.
Initial resistance emerges at the 20-day EMA, followed by the 38.2% Fibonacci retracement at 1.3539. On the downside, immediate support sits near the March 3 low of 1.3254, and a clear break below this area would expose the next bearish objective toward 1.3190, the 78.6% retracement, as the broader corrective phase deepens.
