**BREAKING: GBP/USD Under Pressure as Geopolitical Tensions Weigh on Risk Sentiment**
The British pound is trading under pressure against the US dollar Wednesday morning in European hours, hovering near 1.3450 after failing to sustain gains above the 20-day exponential moving average. The Cable has retreated to levels last seen Tuesday as traders grow increasingly cautious about the durability of the US-Iran ceasefire. Market sentiment has soured following renewed American military strikes on southern Iranian targets, raising serious questions about whether the temporary truce can hold. The geopolitical uncertainty is driving investors toward safe-haven assets and away from risk-sensitive currencies like sterling. Technical weakness is evident as GBP/USD loses critical momentum support, suggesting further downside vulnerability if tensions escalate. Forex traders should monitor developments from Washington and Tehran closely as any breakdown in ceasefire efforts could trigger sharper sterling losses.
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FXnCO Insight
** Consider tightening stop-losses on long GBP positions and watch 1.3400 as the next key support level amid heightened geopolitical risk.
Source: FXStreet