GBPUSD: SELL 1.3535, SL 1.3635, TP 1.3335 | 13 June 2025
13 June 2025, GBP/USD
Event to pay attention to today:
15:30 EET. USD - Unemployment Claims
GBPUSD:
The GBP/USD pair extends its upside to the 1.3580 level during Asian trading on Thursday. Lower than expected US inflation data is putting pressure on the US Dollar (USD) against the Pound Sterling (GBP).
According to Bloomberg, following the release of the CPI report, traders estimated the likelihood of the Fed easing rates before the end of the year at 47 basis points (bps), up from 42 bps before the CPI data was released. While the Fed's next move is already fully priced in for October, traders raised expectations for a rate cut in September to around 75%.
On the other hand, weak UK employment data reinforced market expectations that the Bank of England (BoE) will cut interest rates more than investors had previously forecast. However, on Thursday, traders will be focused on the UK GDP data for the month, which is expected to contract by 0.1% after growing by 0.2% in March. Should the UK GDP figure unexpectedly rise, this could support the British pound.
Trading recommendation: SELL 1.3535, SL 1.3635, TP 1.3335
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The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
