• GBP/USD strengthened on Monday as greenback weakened after the U.S. Supreme Court on Friday struck down President Donald Trump’s tariffs.
• Over the weekend, President Donald Trump announced a new 15% levy on all imports after the Supreme Court of the United States ruled against his global tariffs on Friday.
• Alan Taylor, a Bank of England official, warned that U.S. import tariffs are set to persist and could take years to fully affect the economy.
•Andrew Bailey’s appearance before the parliamentary Treasury Committee later this week will also be closely watched by markets for signals on monetary policy and the economic outlook.
•On the political front, support for Prime Minister Keir Starmer’s Labour Party is weakening in its Manchester stronghold, where the Green Party of England and Wales or the right-wing Reform UK could upend decades of political tradition in an election later this month.
• Immediate resistance is located at 1.3542( Daily high), any close above will push the pair towards 1.3640(38.2%fib)
• Strong support is seen at 1.3469(50%fib) and break below could take the pair towards 1.3425(Lower BB).
Recommendation: Good to buy around 1.3500, with stop loss of 1.3420 and target price of 1.3550
