• GBP/USD moved higher on Monday as investors awaited updates on U.S. trade policy and key economic data this week.
•Key data releases include U.S. job openings on Tuesday, Personal Consumption Expenditures on Wednesday, and non-farm payrolls on Friday.
• On Friday, British Finance Minister Rachel Reeves met with U.S. Treasury Secretary Scott Bessent to discuss a potential trade deal, while emphasizing that improving ties with the EU is "arguably more important."
• The British government, with a more trade-dependent economy than most G20 nations, is negotiating a new economic deal with Washington to avoid reciprocal U.S. tariffs.
•Markets are anticipating a 96% likelihood that the Bank of England will lower interest rates by 25 basis points during its May 8 meeting.
• Immediate resistance is located at 1.3408 (23.6%fib), any close above will push the pair towards 1.3525 (Higher BB)
• Strong support is seen at 1.3288 (Daily low) and break below could take the pair towards 1. 3188 (38. 2%fib).
Recommendation: Good to buy around 1.3320, with stop loss of 1.3250 and target price of 1.3400
