Key events today:

24.09 14:00 UTC: USD – New Home Sales volume.

The pound is holding around 1.35 despite weaker September leading indicators in the UK. The slowdown in the composite PMI reflects business caution amid fiscal uncertainty ahead of the Autumn Budget. At the same time, the Bank of England kept the rate unchanged last week, with communication pointing to a gradual and cautious path of easing policy restrictiveness, which reduces pressure on the currency.

The external backdrop also helps: the Fed made its first step toward lowering rates and emphasizes gradual further actions. This limits the dollar’s strengthening potential and supports renewed interest in highly liquid currencies with relatively stable central bank policies, such as the pound. Demand for safe-haven assets persists in commodity and equity markets, but this does not hinder moderate inflows into currencies with positive real yields.

Key risks for the pair include weak industry and cooling employment in Britain, as well as potential deterioration in external demand. However, given the current balance of factors and the Bank of England’s neutral stance, the short-term outlook remains favorable for GBPUSD to move toward 1.3560 while managing risk below 1.3460.

Recommendations: BUY 1.3510, SL 1.3460, TP 1.3585.