FxWirePro: GBP/USD slides as risk aversion rises amid growing recession concerns

• GBP/USD slipped lower on Monday as  investors avoided risk-sensitive assets amid growing recession fears triggered by U.S. President Trump's unwavering stance on his sweeping tariff plans

•  U.S. President Donald Trump remained firm on his extensive tariff plans, leading investors to anticipate that the growing recession risk could prompt the Federal Reserve to lower interest rates as early as May.

• British Prime Minister Keir Starmer stated on Monday that his government’s initial response to higher tariffs imposed by U.S. President Donald Trump should not be to ease public borrowing rules.

•On the data front, British house prices unexpectedly fell in March, according to data from mortgage lender Halifax, the latest sign of a market cooling after a rush to buy homes ahead of a tax break expiration.

•   Immediate resistance is located at 1.2747(38.2%fib), any close above will push the pair towards 1.2892(50%fib)

•  Strong support is seen at 1.2677(23.6%fib) and break below could take the pair towards 1.2578(Lower BB).

  Recommendation: Good to sell  around 1.2750, with stop loss of 1.2820 and target price of 1.2680