GBPUSD: BUY 1.3575, SL 1.3540, TP 1.3630 | 18 Juni 2025

An event to watch out for today:

15:30 EET. USD - Retail sales

GBPUSD:

The GBP/USD pair has no clear intraday direction and is fluctuating in a narrow trading range above 1.3500 during Tuesday's Asian session. However, spot prices remain close to the three-year high reached last Friday, as traders prefer to wait for key data/events from central banks this week before taking positions for the next phase of the directional movement.

UK consumer inflation data will be released on Wednesday ahead of an important Bank of England (BoE) meeting on Thursday, which is expected to influence the British pound (GBP). In addition, the US Federal Reserve's (Fed) interest rate decision on Wednesday will influence the US dollar (USD) in the near term and provide some significant momentum for the GBP/USD pair.

Meanwhile, US dollar bulls seem reluctant to make aggressive bets amid growing understanding that the Fed will resume its rate-cutting cycle in September. In addition, ongoing trade uncertainty and concerns about the US budget call for some caution before betting on a significant strengthening of the US dollar. This, in turn, provides some support for the GBP/USD pair.

Trading recommendation: BUY 1.3575, SL 1.3540, TP 1.3630

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