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GBP/USD steadies near 1.3550 after three straight session declines
The pair is still well above the 50-day EMA near 1.3500 and the 200-day level around 1.3400, suggesting any rebound is occurring without a fresh UK or US catalyst.
GBP/USD traded near 1.3550 on Monday, edging slightly higher after three consecutive declines had pushed the pair more than a cent lower from the six-month high just below 1.3700, FXStreet reported.
Technically, Sterling remained well above the 50-day exponential moving average around 1.3500 and the 200-day level near 1.3400, while the daily Stoch RSI fell from above 90 to about 82.
FXStreet said Monday brought no UK data and no scheduled US events, and trading stayed inside roughly 35 pips as the pair found buyers mainly after sellers had stepped back.
The outlet linked risk moves earlier in the weekend to US strikes on Iranian rocket launchers and subsequent Iranian action, which helped lift crude oil more than 2% and pushed longer-dated Treasury yields higher, an input FXStreet said was second-order for the UK given July CPI inflation at 2.9% and the Bank of England’s 3.75% rate decision on July 30.
Latest closeWTI crude $86.62 ▲3.9%|GBP/USD 1.356 ▲0.1%