GBPUSD: SELL 1.3400, SL 1.3420, TP 1.3310 | 30 Abril 2025

Event to watch out for today:

17:00 EET. USD - US Consumer Confidence Indicator

GBPUSD:

The GBP/USD pair is attracting sellers towards 1.3425 in the early hours of Asian trading on Tuesday under pressure from modest gains in the US Dollar (USD). Investors are awaiting Bank of England (BoE) official Dave Ramsden's speech for fresh momentum.

The greenback is strengthening against the Pound Sterling (GBP) as concerns over trade tensions eased. China exempted some US imports from 125 per cent tariffs on Friday, sparking hopes that the US-China trade war was nearing an end, although China quickly denied US President Donald Trump's claim that trade talks between the two countries were underway.

US Agriculture Secretary Brooke Rollins said on Sunday that the Trump administration is in daily talks with China over tariffs. Rollins also said talks between the two countries are ongoing and that trade deals with other countries are ‘very close.’

As for the British pound, firm expectations that the Bank of England will cut interest rates by 25 basis points (bps) to 4.25 per cent at its May meeting continue to weigh on the pound. Investors will be keeping a close eye on Bank of England (BoE) spokesman Dave Ramsden's speech on Tuesday. Any ‘innocuous’ comments could weaken the pound in the near term.

Trading recommendation: SELL 1.3400, SL 1.3420, TP 1.3310

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