GBPUSD: BUY 1.3300, SL 1.3220, TP 1.3405 | 06 August 2025

Event to pay attention to today:

05.08 17:00 EET. USD - ISM Services PMI

GBPUSD:

On Tuesday, during the Asian trading session, the GBP/USD pair is trading unchanged around the 1.3280 mark. However, the growing chances of a rate cut by the Federal Reserve (Fed) may put pressure on the US dollar (USD) against the British pound.

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Weak US labor market data released on Friday prompted investors to increase bets on an early rate cut by the Federal Reserve (Fed), which undermines the dollar's position. US employment growth in July was lower than expected, and non-farm payroll (NFP) data for the previous two months was revised downward by 258,000 jobs, indicating a sharp deterioration in the US labor market.

Markets are now pricing in a nearly 95% probability of an Fed rate cut next month due to weaker-than-expected US employment data, with rates expected to fall by more than 63 basis points (bps) by December.

Financial markets estimate the probability of a BoE rate cut at its August meeting at more than 80% and forecast a further quarter-point cut by the end of the year.

Trading recommendation: BUY 1.3300, SL 1.3220, TP 1.3405

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