FxWirePro: GBP/USD outlook weaker on renewed downside pressure

• GBP/USD dipped on Thursday as market sentiment weakened after U.S. President Donald Trump vowed more aggressive strikes on Iran. 

• Trump had earlier signalled a swift end to the war, raising hopes of de-escalation, but his latest remarks have triggered a risk-off sentiment across financial markets.

• In a televised address on Wednesday, Trump said military operations would intensify over the next two to three weeks, without providing a clear timeline for ending the conflict.

• Britain, heavily reliant on energy imports, remains vulnerable as investors stay wary of its fragile public finances. UK government bond yields rose on Thursday as energy prices surged.

• Oil prices surged after Trump’s speech, while stock markets and equity futures fell sharply. Brent crude, the global benchmark, was last up 7.8% at $109.11 per barrel.

• Immediate resistance is located at 1.3337(SMA20), any close above will push the pair towards 1.3408(50%fib)

•  Support is seen at 1.3227(38.2%fib) and break below could take the pair towards 1.3182(Lower BB).

Recommendation: Good to sell  around 1.3330 with stop loss of 1.3400   and target price of 1.3250