GBPUSD: BUY 1.3775, SL 1.3695, TP 1.3875 | 02 July 2025

02 July 2025, GBP/USD

GBPUSD: BUY 1.3775, SL 1.3695, TP 1.3875

Event to pay attention to today:

01.07 16:30 EET. USD - Federal Reserve Chairman Jerome Powell Speaks

01.07 16:30 EET. GBP - BOE Governor Andrew Bailey Speaks

01.07 17:00 EET. USD - ISM Manufacturing PMI

GBPUSD:

The U.S. Dollar Index (DXY), which tracks the dollar against a basket of currencies, fell to its lowest level since February 2022 amid expectations that the Federal Reserve (Fed) will resume its rate-cutting cycle in the near future. Traders believe there is about a 74% chance of a rate cut as early as September.

The Senate approved a procedural vote to open debate on Trump's comprehensive “One Big Beautiful Bill.” This bill would increase the federal budget deficit by $3.3 trillion over the next decade. In addition, the prevalence of risk is contributing to the bearish sentiment around the safe-haven US dollar. This, in turn, is seen as a key factor acting as a tailwind for the GBP/USD pair.

Investors will be looking for signals on the central bank's policy outlook. In addition, US macroeconomic data - the ISM manufacturing PMI and the Job Openings and Labor Turnover Survey (JOLTS) - should provide meaningful impetus to the GBP/USD pair. Nevertheless, the aforementioned fundamental background favors bullish traders.

Trading recommendation: BUY 1.3775, SL 1.3695, TP 1.3875

Connect Drawdown bonus 101% and trade with double your deposit! Bonus funds will help you increase your profits or withstand a sudden drawdown!


The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
David Johnson
Analyst of «FreshForex» company
Close
ปูมบันทึกอยู่ใน