- GBP/USD climbing from 1,3369 low level, because Bowman signals can be appropriate July.
- United States hits Iran Nuclear Counters, cause market volatility; Tehran closes the Hormuz Strait, retaliation.
- UK Flash Services PMI improves to 51.3; Production services, services slightly immerse.
Starting Szterling during the North American session, by 0.37% in relation to the American dollar, with the boost in risk of risk among development in the Middle East. At the time of writing this text, GBP/USD trades at 1.3500.
Sterling increases by 0.37% as Gołębica Comments Fed Sustainable risk boost in the Middle East and improves risk appetite
On Saturday, the United States (USA) attacked Iran’s nuclear facilities, causing an open risk in the current commercial week. Greenback has increased and oil prices have risen; However, WTI recently faced inheritance pressure.
The tensions in the Middle East remained high. Iran took revenge, confirming the closing of the Hormuz Strait and shot the bullets against Israel. US officials have revealed that Iran’s retaliation may take place the next day or two. Despite this, the White House is still looking for diplomatic resolution, according to Reuters sources.
However, Dovish comments from the federal reserve Governor Michelle Bowman, promoting the reduction of the rate in July, the American dollar was weighed. GBP/USD has recovered from everyday low 1,3399, near a 50-day straight movable average (SMA).
Recently, the American global PMI production S&P for June appeared on 52.0, above expectations 51.0, but unchanged compared to the previous reading. PMI services dropped from 53.7 to 53.1 in June, a tick above estimates 53.0.
In Great Britain, the economy shows some signs of recovery, because S&P Global Services Flash PMI increased to 51.3 in June, compared to 50.9, it does not contain 51.5 forecasts. Production PMI still showed spasm readings 7.7, compared to 46.6 estimates.
GBP/USD price forecast: Technical perspectives
The GBP/USD growth trend remains in place, but opposite powerful resistance. Buyers must exceed the exchange rate above the 20-day straight movable average (SMA) 1.3508. This was cleaned the path to challenge 1,3550, 1.3600 and annual (YTD) of the highest level 1.3631. And vice versa, a daily closure below 1.3500 will put up a couple for withdrawal, and sellers look at the 50-day SMA at 1.3399.
British pound price this week
The table below shows a percentage change in the British pound (GBP) compared to the main currencies this week. The British pound was the strongest in relation to the dollar of New Zealand.
| USD | EUR | GBP | JPy | BOOR | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.70% | -0.66% | -0.18% | -0.07% | 0.06% | 0.08% | -0.50% | |
| EUR | 0.70% | 0.02% | 0.57% | 0.65% | 0.73% | 0.80% | 0.16% | |
| GBP | 0.66% | -0.02% | 0.59% | 0.63% | 0.70% | 0.77% | 0.15% | |
| JPy | 0.18% | -0.57% | -0.59% | 0.09% | 0.21% | 0.31% | -0.41% | |
| BOOR | 0.07% | -0.65% | -0.63% | -0.09% | 0.17% | 0.15% | -0.48% | |
| Aud | -0.06% | -0.73% | -0.70% | -0.21% | -0.17% | 0.05% | -0.56% | |
| NZD | -0.08% | -0.80% | -0.77% | -0.31% | -0.15% | -0.05% | -0.62% | |
| CHF | 0.50% | -0.16% | -0.15% | 0.41% | 0.48% | 0.56% | 0.62% |
The heat map shows percentage changes in the main currencies towards each other. The basic currency is collected from the left, and the quote currency is collected from the upper order. For example, if you choose a British pound on the left column and move along the horizontal line to the American dollar, the percentage shift displayed in the field will represent GBP (base)/USD (quote).
