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GBPUSD:
On Monday, the GBP/USD pair was traversing the charts in familiar territory, passing the familiar accumulation zone as investors awaited the latest iteration of US President Donald Trump’s tariff threats. The Trump administration intends to enact a broad catalog of tariffs against virtually all US trading partners starting April 2.
Specific details of the Trump administration’s tariff plans this week remain vague and elusive, but the main tariff threats remain “retaliatory” tariffs on all countries that have their own tariffs on imports of U.S. goods, regardless of the economic context. Retaliatory tariffs on Canada and the European Union are also expected, as well as additional flat tariffs on copper and automobiles.
The UK economic data release schedule remains loose this week, however, fresh US Nonfarm Payrolls (NFP) employment data is due out later this week. The release of NFP could be an important factor for the markets as the US economy transitions into a post-tariff economic environment, and the March labor data will serve as an “indicator” of the impact of the Trump team’s tariff plans.
Trading recommendation: SELL 1.2925, SL 1.3000, TP 1.2865
Origin: FreshForex
