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fxJul 13, 2026, 1:03 AM

GBP/USD Remains Depressed Below 1.3400 as US-Iran Tensions Boost Dollar

The British pound stays weak against the US dollar, hovering near 1.3370 after a gap-down opening, as escalating tensions between the US and Iran support the greenback.

GBPUSD

GBP/USD opened with a modest gap down on Monday and continues to trade under pressure, remaining below the 1.3400 handle. The pair found some support near 1.3370 but lacks bullish conviction.

Market sentiment is skewed toward the US dollar due to heightened geopolitical risks from escalating US-Iran tensions, which drive safe-haven flows into the greenback. This dynamic is capping any upside for the British pound.

Traders are watching for further developments in the Middle East and any additional catalysts from UK economic data or central bank commentary.

Source: FXStreet Forex News