GBP/USD Holds Key Support as 1.33 Becomes the Level to Watch

The British pound remains focused on the key 1.3300 support level after a brief rebound driven by improved market sentiment following peace deal headlines. However, ongoing uncertainty surrounding Iran and broader geopolitical risks means the overall market outlook remains cautious, with recent rallies across currencies, metals, and equities still facing important resistance levels.

From a technical perspective, GBP/USD continues to trade within a long-term consolidation pattern below the major 1.38 resistance zone. A move above 1.3420 to 1.3500 would strengthen the bullish outlook and open the door to further gains towards 1.3700, and potentially 1.38. On the downside, a break below 1.3300 would shift focus to support around 1.3180.

GBP/USD Daily Chart