GBPUSD: BUY 1.3495, SL 1.3460, TP 1.3560 | 23 June 2025

GBPUSD:

On Thursday, the GBP/USD exchange rate found some room for growth, rising above the 1.3450 level after an early technical rebound from the 1.3400 mark. Recently, broad market flows have favored the US dollar amid ongoing tensions in the Middle East, but on Thursday, US markets were closed for a national holiday, giving Cable some room to maneuver and weakening demand for the US dollar.

According to a CBS reporter on social network X (formerly Twitter), President Donald Trump may be considering ordering the US military to strike an Iranian nuclear weapons facility. If the Trump administration decides to implement this proposal, it will be the first case of preventive use of US military force since the invasion of Iraq in 2003. Citing an Israeli government representative, The Times of Israel reported that the Israeli government is awaiting a final decision from the Trump administration within the next 24-48 hours.

Reports citing three different diplomats confirmed that US administration officials, notably US Special Envoy for the Middle East Steve Wiggle, are in regular contact with their Iranian counterpart, helping to soften some of the emotional impact that hit over-the-counter traders on Thursday. Iranian Foreign Minister Abbas Araghchi reportedly made it clear to US envoy Witkoff that the Iranian government is willing to show “flexibility” on its nuclear plans and resume negotiations, but only if Israel stops its missile strikes on distant targets. Iranian Foreign Minister Araghchi said he would travel to Geneva on Friday to meet with his European counterparts.

Trading recommendation: BUY 1.3495, SL 1.3460, TP 1.3560

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