GBPUSD: BUY 1.3520, SL 1.3500, TP 1.3620 | 05 Junio 2025

Events to pay attention today:

11:30 EET. GBP - Services PMI

17:00 EET. USD - ISM Services Business Activity Index

15:15 EET. USD - ADP Employment Change

GBPUSD:

On Tuesday, the GBP/USD pair lost its bullish momentum, settling just above 1.3500. The latest Bank of England (BoE) monetary policy report hearings in the British Parliament failed to inspire traders, and market sentiment remains neutral as traders hope for an easing of trade tensions between the US and China.

Investors are still counting on a trade agreement between President Trump and Chinese leader Xi Jinping, despite the ongoing escalation of trade disputes, as both sides accuse each other of violating the terms of the preliminary trade agreement. Trump administration officials continue to insist that Trump and Xi will soon hold direct talks, but specific details remain unknown.

The number of JOLTS job openings rose to 7.391 million in April, defying forecasts of a decline to 7.1 million. On the other hand, US factory orders data for April fell more than expected, dropping 3.7% from the previous month, the lowest figure in 15 months. The previous month also saw a sharp downward revision, from an initial reading of 4.3% to 3.4%.

The results of the ISM Services Purchasing Managers Index (PMI) survey in the US will be released on Thursday, and investors are hoping for a slight improvement in the overall sentiment of business operators. The ISM Services PMI is forecast to rise to 52.0 in May from 51.6 in April.

Trading recommendation: BUY 1.3520, SL 1.3500, TP 1.3620

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