GBPUSD: SELL 1.3525, SL 1.3575, TP 1.3475 | 24 July 2025

An event to watch out for today:

23.07 17:30 EET. USD - Crude Oil Inventories

GBPUSD:

Sterling is struggling to hold above 1.35 as fundamentals tilt against it. US CPI has accelerated to 2.7 % y/y, reinforcing expectations that the Fed will delay its easing cycle, whereas in the UK subdued GDP growth and a cooling labour market have revived talk of a Bank of England rate cut as early as August.

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Political noise adds to the pressure: London must balance the US’s hard‑line trade stance with the need to mend ties with the EU, heightening uncertainty for businesses. Meanwhile, capital is flowing toward higher‑yielding US Treasuries, sapping demand for UK assets.

The situation is compounded by Britain’s persistent current‑account deficit, which—amid a stronger dollar—requires ever‑higher risk premia to finance. All told, short positions in cable with a tight stop above 1.3575 look attractive in the short run.

Trade recommendation: SELL 1.3525, SL 1.3575, TP 1.3475

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