GBPUSD: BUY 1.3225, SL 1.3125, TP 1.3425 | 14 May 2025

Event to pay attention to today:

15:30 EET. USD - Consumer Price Index

18:00 EET. USD - BOE Governor Andrew Bailey Speaks

GBPUSD:

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The GBP/USD pair is climbing towards 1.3195 in the early European session on Tuesday.

US President Donald Trump said last week that he would continue to impose new 10% tariffs on imports of most British goods, but would reduce higher tariffs on imports of British cars, steel and aluminium. These positive developments related to the US-UK trade deal are fuelling cable prices.

In addition, gradual and cautious policy easing by the Bank of England is helping to boost the Pound Sterling. The UK central bank cut interest rates by a quarter of a percentage point in a split decision last week and said the risks to growth posed by Trump's global trade war did not derail its plan for cautious policy easing. The Bank of England estimates the UK economy will grow by 1 per cent, up from the 0.75 per cent forecast at its February meeting.

Traders await the release of the US consumer price index (CPI) for April, due later on Tuesday.

Trading recommendation: BUY 1.3225, SL 1.3125, TP 1.3425

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