FxWirePro: GBP/USD edged higher as hopes for US-Iran deal boost riskier assets

• GBP/USD recovered from early dip  on Friday as investors locked eyes on a potential U.S.-Iran peace deal,.

•Reports said the U.S. and Iran had to extend their ceasefire and lift shipping restrictions through ​the Strait of Hormuz, but the deal still awaits approval from U.S. President ​Donald Trump.

•Britain's reliance on energy imports leaves it more exposed ​than the U.S. to higher fuel costs. While oil prices have fallen in recent weeks, they remain almost 30% higher than before the war.

.• Financial markets are fully pricing ​one BoE ⁠quarter-point rate hike over the remainder of 2026 - in November - and only a roughly one-in-three chance of a second one.

• Bank of England Governor Andrew Bailey said on Friday that allowing inflation to remain above the central bank’s 2% target was appropriate given uncertainty surrounding the economic impact of the Iran war and the UK’s weak growth outlook.

•   Immediate resistance is located at 1.3486( SMA 20), any close above will push the pair towards 1.3530(61.8%fib)

•  Strong support is seen at 1.3371(38.2%fib) and break below could take the pair towards 1.3327(Lower BB).

  Recommendation: Good to sell around 1.3500, with stop loss of 1.3570 and target price of 1.3430