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fxJun 12, 2026, 1:12 AM

GBP/USD Eases from Weekly High as Iran Risks Weigh, UK Data Ahead

The British pound retreated from its weekly peak against the US dollar during Asian trading, pressured by escalating Iran tensions and anticipation of upcoming UK economic data.

GBPUSD

GBP/USD edged lower during the Asian session after failing to hold gains from the previous day's sharp intraday rally of over 100 pips. The pair slipped from its weekly high as geopolitical risks surrounding Iran weighed on risk sentiment, while traders looked ahead to UK data releases for near-term direction.

Market participants are monitoring the Iran situation closely, with any escalation potentially boosting safe-haven demand for the US dollar. On the data front, UK economic indicators due later this week could provide fresh cues for sterling, adding to the cautious tone.

No specific levels or targets were mentioned in the initial report, but the pair's inability to sustain the rally suggests short-term bearish momentum for cable.

Source: FXStreet Forex News