GBPUSD: SELL 1.3600, SL 1.3630, TP 1.3520 | 10 July 2025

Event to watch today:

21:00 EET. USD - FOMC Meeting Minutes

GBPUSD:

Sterling is sliding toward the 1.3580–1.3600 band in response to another round of protectionist headlines: the White House has confirmed that 1 August is the “final” deadline for new tariffs, boosting demand for the dollar as a defensive play and prompting traders to lock in gains on long-GBP positions.

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Domestic headwinds add to the pressure. A rethink of social-spending programmes has clouded the trajectory of U.K. public finances and sharpened ratings-agency warnings. Weak manufacturing PMI readings and stalled retail sales signal an economic cooldown, while the Bank of England is expected to keep Bank Rate at 5.50 percent through year-end—dampening the pound’s appeal.

Britain’s macro calendar is almost empty for the rest of the week, so near-term price action will hinge on exogenous catalysts—U.S. tariff rhetoric and the market response to the FOMC minutes. With dollar demand firm and no positive domestic drivers, GBP remains vulnerable to a slide toward 1.3520.

Trading recommendation: SELL 1.3600, SL 1.3630, TP 1.3520

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