GBP/USD Trend Today - Bearish?🔔🔔 GBP/USd news:
👉Weaker-than-expected inflation data pressured the British Pound in early European trading on Wednesday. Later in the day, the UK's Office for Budget Responsibility announced a downward revision of its 2025 GDP growth forecast to 1%, leading to a decline in GBP/USD.
While presenting the Spring Budget, UK Chancellor Rachel Reeves highlighted the increasing instability of the global economy and announced cuts to planned government spending.
👉 On Thursday, the U.S. Department of Labor will release the weekly Initial Jobless Claims data, with markets expecting a rise to 225,000 from the previous 223,000. A significant drop in this figure could strengthen the U.S. dollar and push GBP/USD lower.
👉Meanwhile, market sentiment remains cautious early Thursday following the latest remarks from U.S. President Donald Trump regarding tariffs.
👉 If safe-haven flows dominate financial markets later in the day, GBP/USD may struggle to maintain its position.
Personal opinion:
👉GBP/USD will continue to decline as this pair is vulnerable to potential risks from the trade war.
👉Moreover, a part of investors will turn to safe havens such as gold to keep their assets. So this pair will still be limited in the near future
Plan:
🔆 Price Zone Setup:
👉Sell GGBP/USD 1.2970 – 1.2980
❌SL: 1.3010 | ✅TP: 1.2920 – 1.2870
FM wishes you a successful trading day 💰💰💰
