No significant events are expected today.

The pound remains slightly below 1.3150, but the fundamental drivers are turning against it. The UK labor market is showing signs of cooling, and economic growth remains moderate, prompting market participants to price in a higher likelihood of further monetary easing in the coming months. Lower expectations for future rate paths are putting pressure on UK government bond yields and making the pound less attractive relative to the dollar.

Fiscal policy considerations and the need to support economic activity are also pushing authorities toward a more cautious stance, limiting the currency’s upside potential. The rhetoric of major investment houses regarding the Bank of England’s next steps reinforces these expectations. As a result, investors prefer to lock in profits on long positions and use pound rallies as opportunities to sell.

Another restraining factor for GBP is the general demand for the dollar during periods of uncertainty. While the US maintains a relatively stable macroeconomic environment and the UK’s growth outlook remains constrained, the GBP/USD pair faces resistance on the upside and remains vulnerable to downward correction.

Recommendations: SELL 1.3150, SL 1.3200, TP 1.3050