FxWirePro: GBP/USD range-bound as Iran uncertainty keeps traders cautious

• GBP/USD initially dipped but recovered some ground  on Friday as investors assessed growing hoping of a peace agreement between Iran and the U.S.

• The pair continues to trade around the midpoint of its recent 1.33-1.35 range, reflecting a lack of strong directional momentum..

• Any breakthrough in Middle East peace efforts could provide additional support to sterling against the dollar, though upside gains may be limited by domestic political uncertainty and policy concerns in the UK.

• British Prime Minister Keir Starmer insisted he retains authority and pledged to continue leading the government, attempting to ease concerns over political instability..

• Market participants expect both the Federal Reserve and the Bank of England to leave interest rates unchanged next week. For 2026, the BoE is largely expected to remain on hold, although a minority of analysts still anticipate one rate increase.

•   Immediate resistance is located at 1.3433(50%fib)), any close above will push the pair towards 1.3519(Higher BB)

•  Strong support is seen at 1.3321(Lower BB) and break below could take the pair towards 1.3267(38.2%fib 0).

  Recommendation: Good to sell  around 1.3410, with stop loss of 1.3480 and target price of 1.3350