Key events for today:

18.02 07:00 UTC: GBP – Consumer Price Index.

18.02 19:00 UTC: USD – FOMC Meeting Minutes Release.

GBP/USD is trading around 1.356 with a downward bias following fresh UK labor market data: rising unemployment and slower wage growth have increased doubts about the resilience of domestic demand. At the time of writing, the pair remains in the 1.355–1.357 range, while demand for the dollar is supported by expectations regarding Fed policy and safe-haven flows.

Weak employment statistics raise the likelihood that the Bank of England may be forced to continue its rate-cutting cycle to ease pressure on the economy. For the pound, this implies reduced attractiveness of UK assets and weaker capital inflows. Business caution amid rising costs and softer consumption expectations is also weighing on sentiment.

In the US, investors are awaiting signals from the Federal Reserve: any wording suggesting rates may remain higher for longer could strengthen the dollar against most currencies. Against this backdrop, the fundamental outlook for GBP/USD favors further downside pressure, as the combination of weak UK data and steady demand for the dollar creates an unfavorable balance for the pound in the near term.

Recommendations: SELL 1.3560, SL 1.3585, TP 1.3485