GBPUSD:
GBP/USD remains under pressure, trading around 1.3380. Fundamental factors continue to shape a bearish outlook:
Economic Risks: Recession threat in the UK and weak GDP growth (0.1% for Q2) heighten expectations of a Bank of England rate cut in August.
Trade Conflicts: The introduction of tariffs on EU and Mexican imports increases capital flows into the dollar.
Yields: The gap between US Treasury yields and UK government bond yields remains a key driver for the pair.
Key support level is 1.3350. A break below this mark will open the way toward 1.3200. A rise above 1.3420 would be a signal to cancel the bearish scenario.
Trade Recommendation: SELL 1.3380, SL 1.3400, TP 1.3300
Origin: FreshForex
