GBPUSD: BUY 1.3220, SL 1.3090, TP 1.3410 | 16 Abril 2025

GBPUSD:

GBP/USD rose three-quarters of a per cent on Monday, climbing for the fifth consecutive trading session as the Pound Sterling continues to take back ground from a weakening US Dollar. Although the Pound Sterling is making steady progress up the chart against the US Dollar, there are still plenty of challenges ahead as key UK economic data will be released this week.

UK labour market data will be released at the start of Tuesday's London session. The ILO unemployment rate for the 3 months ending February is expected to remain unchanged at 4.4% and the change in jobless claims for March is expected to fall to 30.3k from 44.2k in February.

UK consumer price index (CPI) inflation data will be released on Wednesday. UK core CPI inflation is forecast to fall to 2.7% y/y from 2.8% in the previous period, while core CPI inflation is forecast to remain at 3.5% y/y.

Trading recommendation: BUY 1.3220, SL 1.3090, TP 1.3410

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