GBP/USD depreciates as the US Dollar strengthens on increased risk aversion linked to geopolitical tensions.
President Trump said Iran’s ceasefire proposal was “not good enough” ahead of his Hormuz Strait deadline.
BoE policymakers shifted to holding policy rates amid rising energy costs from the Middle East conflict.
GBP/USD pares its recent gains from the previous day, trading around 1.3220 during the Asian hours on Tuesday. The pair depreciates as the US Dollar (USD) gains ground amid increased risk aversion, which could be attributed to the Middle East peace truce uncertainty.
US President Donald Trump said on Monday that the latest proposal for a US ceasefire with Iran is “not good enough” ahead of his deadline for Iran to either reopen the Strait of Hormuz. “It’s not good enough, but it’s a very significant step,” Trump said, adding, “They’re negotiating now, and they’ve made a very significant step. We’ll see what happens.”
Traders keep a close watch on US President Donald Trump’s deadline concerning the Strait of Hormuz. Trump warned that he could target Iranian power plants and bridges unless his demands are met by 8 p.m. Eastern Time.
The Institute for Supply Management (ISM) showed on Monday that the US Services PMI eased to 54.0 in March from 56.1 in February. The figure came in below expectations of 55.0, signaling a slight loss of momentum in the sector.
The Bank of England (BoE) policymakers, including Sarah Breeden and Swati Dhingra, shifted from supporting cuts to holding rates amid rising energy costs linked to the Middle East conflict, while warning CPI inflation could rise to 3%–3.5% in the coming quarters.
GBP/USD rises as ceasefire speculation weighs on the US Dollar.
Softer US services data added pressure on the Greenback.
Traders now await US inflation, jobless claims and Fed minutes.
The British Pound (GBP) advances by over 0.40% on Monday as US President Donald Trump said the Tuesday deadline he has set for Iran to make a deal is final, while rumors of a possible de-escalation weighed on the US Dollar (USD). GBP/USD trades around the 1.3240 figure at the time of writing.
Sterling gains as ceasefire rumors lift mood, soften Greenback
Risk appetite improved on Monday after Axios reported that US and Israeli officials, along with regional mediators, are discussing a 45-day ceasefire that could be extended if needed. Investors cheered the news, as depicted by US equities posting gains of 0.15% to 0.52%.
Data from the US showed that business activity deteriorated, according to the Institute for Supply Management (ISM), as the Services PMI in March slipped from 56.1 to 54, below economists’ forecasts of 55. The Prices Paid sub-component of the PMI rose to its highest level since October 2022, coming at 70.7, sparked by the rise of oil and fuel costs, commented Steve Miller, the Chair of the ISM’s Services Business Survey Committee.
Last week, strong US jobs data posted the largest job gains in 15 months and a dip in the Unemployment Rate. Nonfarm Payrolls rose by 178K in March, exceeding estimates of 60K. Meanwhile, the Unemployment Rate fell to 4.3% from 4.4% in February.
Consequently, expectations that the Federal Reserve (Fed) will cut rates are none, according to data from Prime Market Terminal, which reflects that the Fed funds rate will remain in the 3.50%-3.75% range, steady in 2026.
Fed interest rate probabilities
Source: Prime Market Terminal
Traders’ eyes will be on the release of US inflation figures, jobless claims, and the Federal Reserve’s last meeting minutes.
GBP/USD Price Forecast: Technical Outlook
In the daily chart, GBP/USD trades at 1.3239. The near-term bias is mildly bearish as spot holds below the downward-sloping resistance trend line from 1.3869 and trades under the clustered simple moving averages near 1.3500, which now cap the upside. The persistent rejection along that descending line, combined with price pressure below the 50–100–200-day group, signals sellers retaining control, even as the longer-term rising support trend line from 1.3035 still prevents a steeper breakdown.
Initial resistance is now at 1.3320, where recent rebounds have stalled beneath the descending trend line, followed by 1.3435 and the moving-average zone around 1.35. A daily close above that 1.35 area would be needed to dilute the current bearish tone and reopen 1.3600. On the downside, immediate support is seen at 1.3187, with 1.3130 and the rising trend line from 1.3035 below; a clean break under that trend support would confirm a deeper bearish extension toward 1.3050.
(The technical analysis of this story was written with the help of an AI tool.)
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 US Dollar.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
-0.23%
-0.28%
0.02%
-0.22%
-0.33%
-0.45%
-0.25%
EUR
0.23%
-0.03%
0.24%
0.00%
-0.13%
-0.25%
-0.05%
GBP
0.28%
0.03%
0.25%
0.00%
-0.09%
-0.22%
0.00%
JPY
-0.02%
-0.24%
-0.25%
-0.23%
-0.36%
-0.49%
-0.28%
CAD
0.22%
-0.00%
-0.01%
0.23%
-0.10%
-0.23%
-0.02%
AUD
0.33%
0.13%
0.09%
0.36%
0.10%
-0.14%
0.09%
NZD
0.45%
0.25%
0.22%
0.49%
0.23%
0.14%
0.23%
CHF
0.25%
0.05%
-0.01%
0.28%
0.02%
-0.09%
-0.23%
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).
GBP/JPY picks up on risk appetite but remains capped below 211.45.
Hopes of a peace deal in Iran have triggered a moderate sentiment improvement.
Yen downside attempts remain limited, as intervention risks loom.
The Pound (GBP) is trading higher against the Japanese Yen (JPY) on Monday, favoured by a moderate optimism amid news of a peace plan to end the war in Iran. The pair, however, remains capped below the 211.45 resistance area so far, although technical indicators are popping up into bullish territory.
News that Iran and the US have received the framework of a plan for a 45-day ceasefire that might end the hostilities immediately and reopen the Strait of Hormuz has been welcomed by the market. Investors have responded by selling safe-haven assets like the US Dollar for the benefit of riskier-perceived assets like the Pound.
Nevertheless, traders are wary of placing significant Yen shorts. The USD/JPY remains relatively close to 160.00 a level which, according to market speculation, might unleash an intervention by Tokyo authorities to stem undesired JPY weakness.
GBP/JPY shows a mildly bullish trend, after bouncing at 209.64 lows in late March, with the highest lows posted last week. A bullish engulfing candle in the daily chart might strengthen the case of a deeper correction if the pair closes the day beyond 211.45.
Technical indicators in the 4-hour chart show an improved momentum, with the Relative Strength Index (RSI) stabilizing just above the 50 mark and the Moving Average Convergence Divergence (MACD) line remaining in positive territory.
Price action suggests that we might be in the C-D leg of a Gartley pattern, targeting beyond the mentioned 211.45 resistance area to the area between the March 24 and 27 lows, at 212.30, and the 78.2% Fibonacci retracement of the late-March sell-off, at 212.55.
To the downside, immediate support is the April 2 low, at 210.35, ahead of the mentioned March 31 low, at 209.64.
EUR/GBP edges lower as diplomatic efforts to end the US–Iran war lift sentiment and support risk-sensitive currencies.
GBP shows relative strength against the Euro, keeping the cross under pressure near recent highs.
Technically, EUR/GBP maintains a mildly bullish bias while holding above key moving averages, with RSI and MACD in positive territory.
EUR/GBP trades with a negative bias on Monday as diplomatic efforts to end the US-Iran war lift market sentiment and support risk-sensitive currencies, with the British Pound (GBP) relatively outperforming the Euro (EUR).
At the time of writing, the cross is trading around 0.8720, though it lacks strong follow-through selling and remains confined near the upper end of last week’s range.
According to Axios, the United States and Iran, along with regional mediators, are discussing a potential 45-day ceasefire that could help end the war. Separately, Reuters reported that both sides have received a proposal for a two-step deal, starting with a ceasefire followed by broader negotiations, which could come into effect as early as Monday and include reopening the Strait of Hormuz.
From a technical perspective, EUR/GBP shows a mildly bullish near-term bias as spot holds just above the flat 50-day Simple Moving Average (SMA) near 0.8686, while the 100-day SMA around 0.8709 and the 200-day SMA near 0.8701 converge just below current levels, forming a tentative support cluster that could cap downside attempts.
The Relative Strength Index (RSI) at 59 signals firm but not stretched upside momentum, consistent with a grind higher rather than a sharp breakout. The Moving Average Convergence Divergence (MACD) line stands above the Signal line in marginally positive territory, and the modestly positive histogram reinforces a controlled bullish tone rather than an aggressive trend.
On the upside, immediate resistance is seen at 0.8750, and a break above this level would strengthen the bullish case, opening the door toward the March swing high at 0.8789, close to the 0.8800 psychological mark.
On the downside, initial support is seen in the 0.8686-0.8708 moving average cluster. A break below this zone could weaken the near-term structure and expose the 0.8650 level, with further downside opening toward the 0.8600 psychological mark.
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the US Dollar.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
-0.32%
-0.38%
-0.14%
-0.27%
-0.48%
-0.51%
-0.33%
EUR
0.32%
-0.04%
0.15%
0.05%
-0.17%
-0.21%
-0.03%
GBP
0.38%
0.04%
0.19%
0.07%
-0.12%
-0.18%
0.03%
JPY
0.14%
-0.15%
-0.19%
-0.11%
-0.34%
-0.39%
-0.20%
CAD
0.27%
-0.05%
-0.07%
0.11%
-0.20%
-0.24%
-0.06%
AUD
0.48%
0.17%
0.12%
0.34%
0.20%
-0.06%
0.15%
NZD
0.51%
0.21%
0.18%
0.39%
0.24%
0.06%
0.21%
CHF
0.33%
0.03%
-0.03%
0.20%
0.06%
-0.15%
-0.21%
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 Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
EUR/GBP retreats towards 0.8700 but remains within the previous days’ ranges.
The Euro remains near one-month highs after rallying more thn 1% over the last three weeks.
ECB-BoE monetary policy divergence is keeping EUR/GBP’s downside attempts limited.
The Euro (EUR) is trading lower against the British Pound (GBP) on a calm week opening, with most markets closed on Easter Monday, and markets wary of risk, amid greater concerns about an escalation of the war in Iran. The pair is trading at 0.8720 at the time of writing, down from session highs at 0.8735, yet still within the last few days’ trading range.
Investors are holding their breath following fresh threats by US President Donald Trump to destroy Iran’s bridges and energy plants if Tehran does not open the Strait of Hormuz before Tuesday at 8 PM.
Earlier in the day, however, a report by Axios suggested that a group of regional mediators is negotiating a 45-day ceasefire that could lead to a peace deal. This has contributed to easing risk aversion somewhat, but Trump’s mixed messages on the war are keeping traders on edge.
ECB-BoE monetary divergence
From a wider perspective, the pair is consolidating near one-month highs, as the Euro has shown greater resilience than the Pound amid the month-long war in the Middle East. The higher inflationary pressures have prompted European Central Bank (ECB) policymakers to suggest that a rate hike is coming, while BoE Governor Andrew Bailey played down the chances of any near-term monetary tightening.
In the calendar on Monday, the main focus will be on the Eurozone Sentix Investor Confidence index, which is likely to show the impact of the Iran war and the energy shock on institutional investors’ confidence. This reading is unlikely to provide any significant support to the common currency.
GBP/USD gains some positive traction as reports of a 45-day US-Iran ceasefire undermine the USD.
Persistent geopolitical uncertainties could limit deeper USD losses and cap the upside for the pair.
The bearish technical setup further warrants caution before positioning for further appreciation.
The GBP/USD pair attracts some dip-buyers near the 1.3175 region during the Asian session on Monday, and for now, seems to have snapped a two-day losing streak. Spot prices climb back above the 1.3200 mark in the last hour, though any meaningful appreciation still seems elusive amid persistent geopolitical uncertainties.
Bloomberg, citing Axios, reported that the US, Iran, and regional mediators are discussing terms for a possible 45-day ceasefire that could lead to an end of fighting. This, in turn, keeps a lid on the safe-haven US Dollar (USD) and offers some support to the GBP/USD pair. However, the risk of a further escalation of the conflict remains in play amid US President Donald Trump’s fresh threat to target Iran’s power plants and bridges if the Strait of Hormuz is not reopened by Tuesday.
From a technical perspective, the near-term bias is mildly bearish as the GBP/USD pair holds well below the 200-period Simple Moving Average (SMA) on the 4-hour chart, which continues to slope lower and cap the broader trend. Adding to this, the momentum has faded after last week’s rebound as the Moving Average Convergence Divergence (MACD) indicator is flattening just under the zero line and showing a marginally negative histogram, suggesting a lack of sustained buying pressure.
Furthermore, the Relative Strength Index (RSI) hovers around 43, below the 50 midline, which reinforces a soft downside tone rather than an oversold extreme. Hence, any further move up is likely to confront immediate resistance at 1.3240, with a stronger cap near 1.3300, where recent swing highs converge, and short-term sellers have reappeared. A sustained move above the latter would be needed to challenge the declining 200-period SMA around 1.3370 and start easing the prevailing bearish bias.
On the downside, immediate support is located at the recent floor around 1.3190, where a break would open the way toward the lower 1.3150 region as the next bearish target.
(The technical analysis of this story was written with the help of an AI tool.)
EUR/GBP flatlines around 0.8720 on Friday after bouncing from 0.8700 support.
The pair has rallied nearly 1% over the last three weeks, despite the risk-off sentiment.
The Euro is likely to require an additional impulse to breach resistance at 0.8740.
EUR/GBP’s reversal from one-month highs at 0.8740 found support above 0.8700 earlier this week, before stalling halfway through the last few days’ range around 0.8720. Technical indicators show waning bullish momentum, while thinned market volumes suggest that further consolidation is the most likely outcome on Friday.
The Euro (EUR) remains on track for a nearly 0.5% weekly gain and is nearly 1% up over the last three weeks. The risk-averse sentiment stemming from the war in Iran has been weighing both currencies against the safe-haven US Dollar (USD). Still, the positive manufacturing activity and the moderate uptick in inflation seen in the Eurozone earlier this week have provided some support to the Euro (EUR), while UK manufacturing PMI failed to convince investors.
Technical Analysis
EUR/GBP’s near-term bias remains mildly bullish, although technical indicators point to a weakening momentum. The 4-hour Relative Strength Index at 58 stays above its midline, but the Moving Average Convergence Divergence (MACD) indicator slips marginally below the zero line, and the MACD line has crossed below the Signal line, which is a bearish sign.
Bears will have to breach Wednesday’s and Tuesday’s lows, at 0.8705 and 0.8676, respectively, to undermine the near-term bullish structure and expose the 0.8630-08635 area, which provided support to the pair on March 23, 24, and 26.
On the upside, bulls are likely to require additional impulse to break resistance at the 0.8740 area (March 3 and April 1 highs), and shift the focus to the key area between 0.8790 and 0.8800, which capped bulls several times in December and early March
Euro Price Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the New Zealand Dollar.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
-0.02%
-0.11%
0.00%
0.01%
-0.12%
0.13%
-0.08%
EUR
0.02%
-0.06%
0.02%
0.03%
0.01%
0.13%
-0.06%
GBP
0.11%
0.06%
0.11%
0.08%
0.11%
0.20%
-0.00%
JPY
0.00%
-0.02%
-0.11%
0.00%
-0.01%
0.10%
-0.11%
CAD
-0.01%
-0.03%
-0.08%
-0.00%
-0.01%
0.12%
-0.09%
AUD
0.12%
-0.01%
-0.11%
0.01%
0.00%
0.12%
-0.09%
NZD
-0.13%
-0.13%
-0.20%
-0.10%
-0.12%
-0.12%
-0.21%
CHF
0.08%
0.06%
0.00%
0.11%
0.09%
0.09%
0.21%
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 Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
GBP/USD may fall toward the descending channel’s lower boundary around 1.3150.
The 14-day Relative Strength Index hovers in the low-40s, indicating weak and negative momentum.
The pair may find the primary resistance at the nine-day EMA of 1.3273.
GBP/USD holds gains after registering over 0.5% losses in the previous day, trading around 1.3230 during the Asian hours on Friday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair remains within the descending channel pattern.
The near-term bias stays mildly bearish as the GBP/USD pair holds below both the nine-day and 50-day Exponential Moving Averages (EMAs), which cap rebounds and confirm a deteriorating short-term trend. Price action has made a sequence of lower highs and lower closes from the 1.35 area, reinforcing downside pressure.
Additionally, the latest 14-day Relative Strength Index (RSI) hovers in the low-40s, showing negative momentum but not yet oversold, which leaves room for further weakness while limiting the risk of an immediate exhaustion low.
The GBP/USD pair may find its primary support at the descending channel’s lower boundary around 1.3150. A break below the channel would expose the 1.3010, the lowest since April 2025, which was recorded in November 2025.
On the upside, the initial barrier lies at the nine-day EMA of 1.3273. Further advances would lead the GBP/USD pair to test the 50-day EMA at 1.3394, followed by the upper descending channel boundary around 1.3440. A sustained break above this confluence resistance would trigger a bullish bias, opening the doors for exploring the area around the 1.3869, the highest level since September 2021, reached on January 27.
GBP/USD: Daily Chart
(The technical analysis of this story was written with the help of an AI tool.)
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 New Zealand Dollar.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
-0.00%
-0.11%
0.00%
0.00%
-0.13%
0.10%
-0.05%
EUR
0.00%
-0.07%
0.02%
0.00%
-0.01%
0.09%
-0.05%
GBP
0.11%
0.07%
0.11%
0.08%
0.08%
0.17%
0.02%
JPY
0.00%
-0.02%
-0.11%
-0.01%
-0.03%
0.07%
-0.09%
CAD
-0.01%
-0.01%
-0.08%
0.00%
-0.01%
0.09%
-0.06%
AUD
0.13%
0.01%
-0.08%
0.03%
0.01%
0.09%
-0.06%
NZD
-0.10%
-0.09%
-0.17%
-0.07%
-0.09%
-0.09%
-0.15%
CHF
0.05%
0.05%
-0.02%
0.09%
0.06%
0.06%
0.15%
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).
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