GBPUSD: SELL 1.3600, SL 1.3620, TP 1.3520 | 11 July 2025

Event to watch today:

15:30 EET. USD - Initial Jobless Claims

GBPUSD:

The British pound remains under pressure amid increased risk-off sentiment linked to new White House statements about additional tariffs from August 1. This is boosting demand for the US dollar as a safe haven and prompts investors to take profits on long GBP positions.

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Domestic factors in the UK also have a negative impact: revisions to social spending programs and weak manufacturing PMI and retail sales data signal a slowdown in economic activity. The Bank of England is expected to keep the rate at 5.50% until year-end, which limits the pound’s attractiveness for investors.

The current GBP/USD rate is 1.3590. In the absence of positive drivers from the UK economy and persistent demand for the dollar, the pair remains vulnerable to further declines toward 1.3520.

Trade recommendation: SELL 1.3600, SL 1.3630, TP 1.3520

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