GBPUSD: BUY 1.3425, SL 1.3395, TP 1.3510 | 23 Abril 2025
23 Abril 2025, GBP/USD
GBPUSD:
The GBP/USD pair is trading in positive territory around 1.3370 during the early Asian session on Tuesday. Concerns over slowing growth in the United States (US) and worries over the independence of the Federal Reserve (Fed) are driving the US Dollar (USD) lower and creating a tailwind for the major pair.
US President Donald Trump condemned Powell for continuing to maintain a “wait-and-see” monetary policy until there is clarity on how the new tariff policy will affect the economic outlook. In a Truth social media post, Trump warned that the US economy will slow down if Powell doesn't cut interest rates immediately.
Heightened uncertainty surrounding Trump's tariffs and rising trade tensions between the U.S. and China are undermining the U.S. dollar across the board.
On the other hand, softer UK consumer price index (CPI) inflation data for March and global uncertainty paved the way for an interest rate cut by the Bank of England (BoE) at its May meeting. Financial markets are now betting on an interest rate cut at the Bank of England's May meeting, estimating an 86% probability of this happening, according to LSEG data. This, in turn, could affect the Pound Sterling (GBP) exchange rate against the US Dollar.
Trading recommendation: BUY 1.3425, SL 1.3395, TP 1.3510
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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.
