The GBP/USD pair stages a modest recovery from the 1.3160-1.3155 area, or over a four-month trough touched during the Asian session this Tuesday, and for now, seems to have snapped a five-day losing streak. Spot prices rally back above the 1.3200 mark in the last hour, though the upside seems limited on the back of escalating Middle East tensions.

US President Donald Trump suggested on Monday that significant progress had been made in talks aimed at ending US military operations in Iran. Tr