• GBP/USD strengthened on Monday as dollar eased due to concerns over escalating tariff tensions.
• The greenback began the week weaker after Trump announced on Friday plans to double steel and aluminum tariffs to 50% starting Wednesday.
• With no major UK data today, the British pound will mainly follow moves in the U.S. dollar, as traders watch U.S. tariff updates and global trade news.
• Technical signals are strongly bullish as 10-day and 21-day moving averages are trending upwards, signaling short-term bullish momentum for GBP/USD
• Immediate resistance is located at 1.3582(23.6%fib), any close above will push the pair towards 1.3642( Higher BB)
• Strong support is seen at 1.3450(38.2%fib) and break below could take the pair towards 1.338(50% fib).
Recommendation: Good to buy around 1.3500 with stop loss of 1.3430 and target price of 1.3600.
