No major events are expected today.

The British pound saw mixed labor market data from the UK, but the UK’s own labor department seems to take these figures with a grain of salt. On the US side, President Donald Trump has brushed aside his campaign promises of imposing sweeping tariffs on all US trading partners, instead focusing on more targeted tariff threats against North American partners—Canada and Mexico.

Markets trembled as investors scrambled to keep up with the headline generator that is President Trump. Investors had bet heavily that the newly inaugurated US president would hold off on implementing tariffs on day one, as he had long threatened. However, the new wave of revamped trade rhetoric has caused market sentiment to oscillate within a moderate range.

Only minor data is scheduled for Wednesday, leaving GBPUSD traders focused on headlines likely to emerge during US trading hours. Sterling traders will also keep an eye on Friday’s S&P Global PMI data releases on both sides of the Atlantic.

Recommendations: Monitor the 1.2280 level. If the pair consolidates below this level, consider Sell positions; if it rebounds, consider Buy positions.