No major events are expected today.

The British pound is trading steadily near 1.3450 against the backdrop of a restrained dollar: markets continue to price in a higher probability of Federal Reserve easing after increased political pressure on the regulator. Falling short-term U.S. yields reduce the premium in favor of the USD, which supports GBP in the pair with the dollar.

Domestic UK factors are neutral: the Bank of England remains in a “data-dependent” mode, but the market still believes that the easing cycle in the UK will be more cautious than in the U.S. This expectations differential favors the pound in the short term, unless new clearly “dovish” signals emerge from London.

The key risk for GBP bulls is unexpectedly hawkish comments from BoE officials or a strong batch of U.S. data, which could return the initiative to the dollar. For now, the balance of fundamental factors — from Fed expectations to risk sentiment — supports a moderate GBPUSD upside scenario.

Recommendations: BUY 1.3450, SL 1.3375, TP 1.3550.