No important events are expected today.

The Pound holds near 1.3200, but the domestic background does not provide it with a convincing support. At its June meeting, the Bank of Japan—sorry, the Bank of England kept the rate at 3.75% by a majority of 7 votes to 2, although two members of the Committee voted for a hike. This distribution shows that the regulator sees inflationary risks but is not yet ready to turn them into a new cycle of tightening.

May inflation in the UK remained at 2.8%, while price growth in the services sector according to the CPIH index accelerated to 3.6%. For the Bank of England, this combination complicates the assessment of prospects: the resilience of services requires caution, while the weakness of demand limits the space for a tighter policy. Consequently, the interest rate factor does not yet create a noticeable advantage for the Pound.

At the same time, the US Dollar is strengthening against the backdrop of expectations for further Fed steps and a more cautious attitude of investors toward risky assets. Political uncertainty in the UK increases the Sterling’s sensitivity to this external pressure, even if it does not become an independent driver of movement. While the current background remains, GBP/USD may remain under pressure, and the selling scenario looks more consistent with the fundamental picture.

Recommendations: SELL 1.3200, SL 1.3230, TP 1.3110.