Forex. Pound/Dollar (GBP/USD) forecast for today
After reaching a maximum in the area of 1.3645, an attempt to gain a foothold in the trading range of last week is visible. At the moment, there is strong price support at 1.3583 and 1.3532.
The UK unemployment rate will be released on Tuesday. There is an accelerated rate of decline. Since May of this year, the indicator has decreased from 4.8% to 4.6% in July. If this trend continues in the latest publication, then the pound, paired with other world currencies, may strengthen significantly.
At the weekend, two representatives of the Bank of England signaled the necessary rate increase. Michael Saunders said households should prepare for a "significantly earlier" rate hike, and Governor Andrew Bailey expressed concern that inflation expectations had begun to rise. Even earlier it became known that economic growth would slow down sharply in recent months, due to higher energy prices and cuts in benefits. We also do not forget about the expected changes in the monetary policy of the US Federal Reserve. They provoke the strengthening of the US dollar paired with the pound. While the Bank of England adheres to a conservative position not to change the discount rate.