{
  "id": 2914696,
  "title": "British Pound holds near Feb. 11 highs vs weak USD as bulls await breakout above 1.3660",
  "url": "https://urgent.news/2026/08/24/british-pound-holds-near-feb-11-highs-vs-weak-usd-as-bulls-await",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-24T01:16:31.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/british-pound-holds-near-feb-11-highs-vs-weak-usd-as-bulls-await-breakout-above-13660-202608240116"
  },
  "original_language": "en",
  "account": "The GBP/USD pair opens the new week with a bullish bias and stays close to its February 11 high, which was reached on Friday. The US Dollar struggles to recover and remains near its weakest level in over three months, providing a boost for the GBP/USD pair. Traders are reducing expectations of an imminent interest rate hike by the Federal Reserve due to signs of easing inflation pressures. The US Treasury announced it will double buyback operations for long-dated government bonds starting in September, leading to a drop in US bond yields. This situation benefits the USD, but tensions between the US and Iran may limit potential losses for the US dollar. The US Treasury Secretary is set to announce the toughest sanctions on Iran at a press conference on Monday, while Iran's Supreme National Security Council secretary warns of halting oil exports if economic war continues. Inflation concerns caused by volatile oil prices suggest at least one Fed rate hike by the year's end, which could deter more bearish bets on the Greenback and limit the GBP/USD pair's upside. The market now shifts its focus to the US Personal Consumption Expenditures (PCE) Price Index release on Wednesday and Fed Chair Kevin Warsh's appearance at the Jackson Hole Symposium, as investors await more clues about the Fed's policy stance. The GBP/USD pair waits for a break above the 1.3660 supply zone before the next upward movement. If the currency pair experiences a corrective pullback towards the 1.3600 level, it is likely to be bought and remain near the 1.3570 support. Technical analysis, assisted by an AI tool, highlights this market scenario.",
  "summary": "The GBP/USD pair trades with a positive bias around mid-1.3600s at the start of a new week and remains well within striking distance of its highest level since February 11, touched on Friday.",
  "key_points": [
    "GBP/USD near February 11 highs vs weak USD",
    "US Dollar near weakest level in over 3 months",
    "Fed rate hike expectations eased by easing inflation"
  ],
  "editors_take": "The British Pound's steady performance near recent highs against a weak US Dollar suggests traders are positioning for a potential breakout, with key events and data releases likely to shape the currency pair's trajectory.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}