- GBP / USD pricing analysis shows increased pound demand.
- The American president announced 25% of the reciprocal tariffs in Japan and South Korea.
- Trump threatened to impose 50% tariff on the import of copper.
GBP / USD price analysis shows the increased pound demand to other currencies in the middle of renewed Trump threats to tariff threats. Sterling has the edge because the UK is among several countries that have already signed trading offers with the United States. Therefore, it serves as a shelter for traders who flee larger tariffs in other countries, such as Japan.
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The pound was gained on a dollar on Tuesday and Wednesday after Wednesday after Trump continued to pruning tariff threats. The American president announced 25% of the reciprocal tariffs in Japan and South Korea. The two countries have failed to reach a trade agreement with the US. Moreover, Trump stated that he would send letters to additional countries that could not agree within 90 days.
In addition, the American president threatened to impose a 50% tariff on the import of copper. He also threatened tariffs on pharmaceutical and semiconductors. These threats have raised concerns about potential trade wars that could harm the global economy.
However, for a pound it was time for the shine. The United Kingdom is among several countries that have signed a contract with the United States. Therefore, there are more protection against larger tariffs, giving it to his edge across other countries.
Participants in the market continue to hope for several contracts before 1. August, when it will take effect more tariff.
GBP / USD Key events Today
GBP / USD Technical price Analysis: Stand price near Key Level 1,3601
On the technical side, GBP / USD price paused near key 1.3601. Squares below 30ths, with RSI below 50, supporting the bear bias. Sentiment recently moved after the bulls did not break above the level of resilience at 1,3750.
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Although the price made higher, the RSI made lower, signaling the weaker momentum. As a result, the bears took over by breaking below SMA.
However, they discovered that challenging to cross the level of support from 1,3601. Although the price recently broke under the support, other was attached to him. The price must separate from this level and make lower and peak, to continue reducing trends. This would allow USD / JPI to reset the 1,3400 support.
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