Sterling Stalls Near 1.3500 as Dollar's Jobs-Driven Rally Meets Reluctant Sellers GBP/USD is hovering near 1.3500 after a Non-Farm Payrolls driven Dollar rally and rising US-Iran tensions, though sellers appear reluctant to push the pair much lower ahead of Friday's UK GDP data. The British pound is showing little fight against the US Dollar on Monday, sliding toward the psychological 1.3500 mark during Asian trading even though sellers appear unwilling to chase the pair much lower. A Firmer Dollar Keeps the Pound on the Back Foot GBP/USD has now declined for a second consecutive session, but the drop lacks real conviction. Friday's stronger than expected US Non-Farm Payrolls report reinforced bets that the Federal Reserve will hold off on aggressive rate cuts, and that has kept the US Dollar's post-NFP gains largely intact into the new week. A stronger jobs report tends to lift a currency because it lowers the urgency for the central bank to loosen policy, and higher expected interest rates make dollar-denominated assets more attractive to global investors. Adding to the greenback's appeal, rising tension between the United States and Iran has pushed investors toward safe-haven assets, and the Dollar has been a direct beneficiary of that flight to safety. Together, these two forces are enough to keep Sterling under pressure, even if they have not been strong enough to trigger a sharp sell-off. Bears Are Cautious Near a Six-Month High Spot prices are still holding above Friday's swing low, which is exactly why aggressive short sellers are being urged to wait rather than pile in. The broader move remains a pullback from a six-month peak that GBP/USD touched back in August, and pullbacks from multi-month highs often need a genuinely strong trigger before they turn into deeper corrections. For now, that trigger has not shown up, so the pair is essentially treading water just under the 1.3500 handle. A move where a pair slips for more than one session without breaking a recent low is often read by chart watchers as hesitation rather than a change in the underlying trend. Fibonacci Levels and Moving Averages in Focus On the charts, the first real cushion for the pair sits in the 1.3470 to 1.3460 band, a zone reinforced by the 38.2% Fibonacci retracement level and the 50-day Simple Moving Average. Fibonacci retracement levels mark the points where a prior move often pauses or reverses, and traders watch them alongside moving averages to judge whether a support or resistance zone is likely to hold. A break below the 1.3470 to 1.3460 band would open the door to the 50% retracement near 1.3407, followed by deeper Fibonacci supports at 1.3345, 1.3255 and finally 1.3141. On the upside, buyers first need to clear the 23.6% retracement level at 1.3548 before they can realistically target the cycle high anchored around 1.3673. A decisive break above that cycle high would reopen the path for a stronger bullish extension, while repeated failure to clear 1.3548 would keep the pair capped in its current range. What the Live Chart Is Saying Right Now Current market data puts GBP/USD near the 1.35 handle, down roughly 0.15% from the previous close, with the pair confined inside a 52-week range of 1.30 to 1.38 and trading volume running at about 1.00 times its 20-day average. The 14-day Relative Strength Index reads 49, sitting almost exactly at the neutral midpoint, which points to indecision among traders rather than an overbought or oversold extreme. The MACD line is essentially flat against its signal line, with a slightly negative histogram reading that leans bearish but shows no real momentum behind it. Meanwhile, the moving average picture is more constructive for the longer-term trend. The 20-day and 50-day Exponential Moving Averages sit around 1.35, above the 200-day Exponential Moving Average near 1.34, and the 50-day Simple Moving Average remains above the 200-day Simple Moving Average. That configuration is known as a golden cross, and it keeps the broader structure tilted higher even during this short-term dip. Bollinger Bands stretch from roughly 1.34 to 1.37 with a midline near 1.36, and the pair is currently trading comfortably inside that band rather than testing either extreme, which again points to a lack of strong directional pressure. The Average Directional Index stands at 23, a weak reading that points to a range-bound market rather than a strong trend in either direction. The Stochastic oscillator's fast line at 18 against a signal line of 17 sits deep in oversold territory, hinting that any fresh downside push could run out of steam quickly. The Average True Range of roughly 0.01 gives traders a rough sense of daily volatility, useful as a guide for setting stop-loss buffers around the current 20-day support near 1.35 and resistance near 1.37. UK GDP Data and a Quiet US Session Ahead Looking ahead, the monthly UK GDP report due on Friday is shaping up as the next real catalyst for the pair, and traders are largely holding their fire until that number lands. Compounding the wait-and-watch mood, the Labor Day holiday in the United States has thinned out trading volumes, which tends to discourage aggressive positioning and could keep GBP/USD supported near current levels in the short term. Taken together, the combination of a data-light calendar, a holiday-thinned market and a mixed technical setup argues for patience. Traders would be better served waiting for a clear and sustained break of support before assuming the recent retreat from August's six-month high is about to accelerate, since chasing the move now would mean betting against both thin liquidity and a set of indicators that are still leaning neutral. What this means for you If you trade forex, send or receive remittances tied to the UK, or run a business that settles payments in pounds, the coming days around the 1.3500 level are worth watching closely. • For traders: Whether the pair holds or breaks levels like 1.3470-1.3460 and 1.3548 will decide the next big move. These levels are worth factoring into stop-loss and entry planning right now. • For remittance senders and recipients: The pound is stuck in a tight range with no big swings visible yet. A real shift in the rate may only show up after Friday's UK GDP release, so timing a large transfer for after that data could be smarter. • For import-export businesses: A firmer Dollar means slightly cheaper pound-denominated payments for now, but that relief is not seen as durable given the mixed technical setup. • For investors: A weak ADX reading and a tightening Bollinger Band range suggest there is no strong trend in place yet, so it may be prudent to wait for Friday's data before committing to a bigger position. Questions & Answers 1. Where is GBP/USD trading right now? The pound is trading with a negative bias near the psychological 1.3500 level during Monday's Asian session. 2. Why is the pound falling against the Dollar? Friday's stronger than expected US Non-Farm Payrolls report and rising US-Iran tensions have both boosted the safe-haven Dollar, pressuring the pound. 3. Are sellers pushing the pair aggressively lower? No, the pair is still holding above Friday's swing low, which suggests sellers lack strong conviction right now. 4. What are the key support levels to watch? The first support sits in the 1.3470-1.3460 band, with deeper supports at 1.3407, 1.3345, 1.3255 and 1.3141. 5. What resistance levels could cap any recovery? The first resistance is at 1.3548, followed by the cycle high anchored around 1.3673. 6. What is the next major catalyst for the pair? The monthly UK GDP report due on Friday is expected to be the next significant driver for GBP/USD. https://trendkia.com/en/market/dolara-ki-majabuti-ke-age-1-3500-para-ataka-british-pound-bikavala-bhi-hichakichae-28838 TrendKia — Har trend, sabse pehle.