GBP/USD REMAINS IN A FIRMLY BULLISH STANCE
GBP/USD REMAINS IN A FIRMLY BULLISH STANCE
The British Pound (GBP) has demonstrated a strong bullish trend against the U.S. Dollar (USD), reaching a six-month high on April 3, 2025.
This surge is attributed to a combination of factors, including market reactions to U.S. trade policies and positive developments in UK-U.S. trade negotiations.
President Donald Trump's announcement of a 10% tariff on all imports, with higher rates for key trading partners, has raised concerns about a global trade war.
The UK faces the minimum 10% tariff, along with elevated duties on cars, steel, and aluminum exports.
Despite these challenges, optimism about a potential UK-U.S. trade agreement has bolstered the pound.
British Prime Minister Keir Starmer reported that trade negotiations with the U.S. are "well advanced," contributing to positive market sentiment and supporting the pound's strength.
Technical indicators suggest a continued bullish outlook for GBP/USD.
The pair has broken through previous resistance levels, with the next target identified at 1.3351, based on projections from earlier price movements.
The bullish trend is expected to persist as long as support holds above 1.2878.
