Important events today:

16.09 06:00 UTC: GBP – Consumer Price Index.

16.09 12:30 UTC: USD – Retail Sales.

16.09 18:00 UTC: USD – Consumer Price Index.

The pound approaches the session with weakened internal support following fresh labor market data from the United Kingdom. Wage growth excluding bonuses slowed to three point five percent, the number of job vacancies fell to seven hundred two thousand, and payroll employment declined in August. This backdrop reduces wage pressure on the Bank of England and limits arguments in favor of accelerated policy tightening.

Today the market awaits United Kingdom inflation for August, followed by the Bank of England’s rate decision on Thursday. Consensus anticipates an acceleration in headline inflation to three point one percent, yet the regulator is still widely expected to hold rates unchanged. High oil prices present a dual risk: they intensify price pressure while increasing costs for businesses and households in an energy-importing nation, thereby dampening economic activity.

On the external side of the pair, the dollar retains an advantage ahead of the Federal Reserve decision amid high United States bond yields and a rate hike that is nearly fully priced in. Stronger British inflation could support the pound, but a weak labor market reduces the likelihood that this local factor will sustainably outweigh the dollar’s momentum. Under current conditions, the priority remains with a decline in GBPUSD.

Recommendations: SELL 1.3480, SL 1.3515, TP 1.3400.