No major events are expected today.

On Tuesday, the GBP/USD pair remained steady, holding slightly above the 1.2900 mark as investors await U.S. President Donald Trump’s long-anticipated tariff announcement, scheduled for Wednesday evening. Trump is expected to unveil his “retaliatory” tariff package at 19:00 GMT on Wednesday.

On Tuesday, The Wall Street Journal reported that the U.S. Trade Representative may be preparing a last-minute alternative tariff proposal to present to Trump, in an attempt to soften and organize the numerous looming tariff threats.

The U.S. ISM Manufacturing PMI for March fell faster than expected, dropping to 49.0 from 50.3, as businesses grew cautious ahead of the anticipated tariff announcements. Market forecasts had predicted a reading of 49.5 or higher. The ISM New Orders Index also saw a sharp decline for the second consecutive month, hitting a two-year low at 45.2.

The UK economic calendar remains empty this week, but fresh U.S. Nonfarm Payrolls (NFP) data is expected later in the week. The NFP release could become a key factor for markets as the U.S. economy transitions into a post-tariff phase, with the March labor data serving as an “indicator” of the impact of Trump’s tariff plans.

Recommendation: BUY 1.2925, SL 1.2845, TP 1.3065.