GBPUSD: SELL 1.2890, SL 1.2950, TP 1.2780 | 12 Marzo 2025

An event to watch out for today:

16:00 EET. USD - JOLTs Job Openings

GBPUSD:

The GBP/USD pair is recovering the previous session's losses, trading near 1.2890 during Asian hours on Tuesday. The pair is rising on the back of a weaker US dollar amid concerns that tariff policy uncertainty could lead the US economy into recession.

Weaker-than-expected U.S. employment data for February reinforced expectations of multiple rate cuts by the Federal Reserve (Fed) this year. LSEG data shows that traders now expect a total of 75 basis points (bps) in rate cuts, with the June rate cut already fully priced in.

However, Fed Chairman Jerome Powell reassured markets that the central bank sees no immediate need to adjust monetary policy despite growing uncertainty. San Francisco Fed Chair Mary Daly supported that view on Sunday, noting that rising uncertainty in the business environment may reduce demand but is not a reason to change the interest rate.

As the Federal Reserve enters the black period ahead of its March 19 meeting, the central bank's comments this week will be limited. Investors now await the release of the February Consumer Price Index (CPI) on Wednesday to get further insight into inflation trends.

Trading recommendation: SELL 1.2890, SL 1.2950, TP 1.2780

FreshForex offers a wonderful 300% bonus on every deposit of $100 or more, giving you the opportunity to increase your trading volumes!