FxWirePro: GBP/USD gains some momentum as dollar weakens following US-Iran tensions flare up

• GBP/USD strengthened on Wednesday as the U.S. dollar weakened after US-Iran tensions flared up again.

•U.S. President Donald Trump said that an interim agreement to end the war with ​Iran was "over" after Tehran carried out new attacks on U.S. bases in ‌the Gulf.

• Market sentiment remained fragile after Iran reportedly targeted sites in Bahrain and Kuwait in response to a fresh wave of U.S. strikes, raising concerns over a broader regional conflict and keeping investors cautious.

• Traders are now turning their attention to the minutes of the Federal Reserve's June policy meeting, due at 1800 GMT, for fresh clues on the outlook for U.S. interest rates and the timing of future policy moves.

• In the UK, political developments also remained in focus after reports that the country's main political parties would not field candidates against Nigel Farage in the upcoming Clacton by-election, although the news had little immediate impact on sterling trading.

•   Immediate resistance is located at 1.3428(50%fib), any close above will push the pair towards 1.3477(Higher BB)

•  Strong support is seen at 1.3298(38.2%fib) and break below could take the pair towards 1.3154(23.6%fib).

  Recommendation: Good to sell  around 1.3410, with stop loss of 1.3470 and target price of 1.3330