Pound Sterling Price News & Forecast: GBP/USD gains positive traction for the second straight day
Pound Sterling scales higher as USD weakens amid renewed US-Iran peace deal hopes The GBP/USD pair attracts buyers for the second consecutive day on Wednesday and moves away from the weekly low, around the 1.3515-1.3510 area, which was touched the previous day. The optimism over a potential US-Iran peace deal undermines the safe-haven US Dollar (USD) and lifts spot prices to the 1.3580 region during the Asian session. US President Donald Trump said that ‘Project Freedom’ – aimed at restoring commercial shipping traffic through the Strait of Hormuz – will be paused for a short period of time to see if the Iran peace deal can be finalised. This comes hours after US Defense Secretary Pete Hegseth said that the US-Iran ceasefire holds for now and that the US was not seeking to re-escalate tensions with Tehran. The comments lift hopes for a quick resolution of the US-Iran conflict and boost investors confidence, prompting some selling around the USD and providing a goodish lift to the GBP/USD pair. Read more… GBP/USD stalls as US Dollar drivers dominate a quiet UK week GBP/USD ended Tuesday near where it started, settling close to 1.3545 after a narrow session capped by resistance around 1.3550. Price has held