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- GBP/USD remains flat at 1.3200, halfway through the last two weeks’ trading range.
- Investors’ appetite for risk remains subdued amid a fresh escalation of the US-Iran hostilities this weekend.
- Technical indicators are showing initial signs of bottoming at the 1.3050 area.
The British Pound (GBP) is practically flat against the US Dollar (USD) on Monday, with Pound bulls subdued amid rising geopolitical tensions and the UK’s political impasse, while the safe-haven USD treads water, awaiting an array of US employment indicators. The GBP/USD pair remains steady at 1.3200 halfway through the last two weeks’ trading range.
Investors are wary of risk at the week’s opening, despite the latest agreement to end a series of attacks in the Strait of Hormuz this weekend, which had shaken a precarious ceasefire. US and Iranian negotiators have also agreed to restart peace talks this week, in the latest attempt to end a four-month-long conflict that threatened to collapse the global economy.
In the UK, political uncertainty is likely to keep the Pound’s upside attempts limited until the next Prime Minister starts to define his political agenda. In the US, on the other hand, a string of employment indicators, including Thursday’s key Nonfarm Payrolls report, are expected to shed further light on the Federal Reserve’s monetary policy path.
Technical Indicator: Pound shows initial signs of bottoming
GBP/USD trades at 1.3210, with the bearish bias still in place after a nearly 3% decline in the last two months. Recent price action, however, shows signs of a potential bottoming in the mid-range of the 1.3100s, with momentum indicators in 4-hour charts turning bullish.
The 4-hour Relative Strength Index (14) around 50.7 hints at neutral momentum, and the Moving Average Convergence Divergence (MACD), hovering slightly above zero with a modestly positive line, shows an incipient upside pressure ahead of key resistance levels.
Bulls are likely to be tested at the top of the last two weeks’ horizontal channel, near 1.3270 (June 22 high). Further up the 1.3320 area (June 8, 11 lows, and June 18 high) is likely to pose some resistance ahead of the mid-June highs at the 1.3440-1.3450 area.
On the downside, session lows at 1.3195 are holding bears on Monday, ahead of last week’s horizontal floor at 1.3140, which guards the path toward the November 2025 lows near the 1.3000 psychological level.
Pound Sterling Price Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.15% | -0.15% | 0.05% | -0.09% | -0.09% | -0.25% | -0.11% | |
| EUR | 0.15% | -0.01% | 0.20% | 0.05% | 0.09% | -0.09% | 0.04% | |
| GBP | 0.15% | 0.01% | 0.21% | 0.07% | 0.08% | -0.11% | 0.05% | |
| JPY | -0.05% | -0.20% | -0.21% | -0.13% | -0.14% | -0.32% | -0.16% | |
| CAD | 0.09% | -0.05% | -0.07% | 0.13% | -0.00% | -0.18% | -0.05% | |
| AUD | 0.09% | -0.09% | -0.08% | 0.14% | 0.00% | -0.17% | -0.02% | |
| NZD | 0.25% | 0.09% | 0.11% | 0.32% | 0.18% | 0.17% | 0.16% | |
| CHF | 0.11% | -0.04% | -0.05% | 0.16% | 0.05% | 0.02% | -0.16% |
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 British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
