FxWirePro: GBP/USD retreats slightly but trend is still bullish

• GBP/USD  eased below1.3700 level  on Monday despite upbeat UK GDP data, as investors looked ahead to progress in U.S. trade talks with the July tariff deadline approaching.

• Investors are also watching for progress on U.S. trade deals, with a July tariff deadline approaching, as talks with Canada are set to resume following a brief pause.

• Markets are keeping are also closely watched on Trump’s expansive tax and spending package, currently under Senate review, which the Congressional Budget Office warns could raise U.S. debt by $3.3 trillion over 10 years.

•On the data front, Britain’s economy grew at its fastest pace in a year in Q1 2025, driven by a rush in home purchases and accelerated manufacturing ahead of U.S. tariff hikes.

•Britain’s economy grew 0.7% in Q1 2025, matching the preliminary estimate and marking the fastest pace since Q1 2024, the ONS reported.

•   Immediate resistance is located at 1.3758(23.6%fib), any close above will push the pair towards 1.3787( Higher BB)

•  Strong support is seen at 1.3658(Jun 26th low) and break below could take the pair towards 1.3562(38.2%  fib).

  Recommendation: Good to buy around 1.3650  with stop loss of 1.3550 and target price of 1.3750