The GBP/USD pair gained momentum, rising to approximately 1.3560 during the early European session on Tuesday. The recent ceasefire in the Middle East has influenced trader sentiment, leading to a weaker US dollar.

Market analysts are keeping a close eye on the upcoming speech from the Bank of England’s Governor Andrew Bailey. Investors also await Federal Reserve Chair Jerome Powell’s semiannual testimony to gauge future monetary policy impacts.

This development in GBP/USD reflects a crucial moment for traders. Exchange rates can shift rapidly, making it essential to track these changes closely.

Stay informed about potential market movements as both geopolitical and economic factors continue to impact currency values.