Will the GBPUSD pair continue its bullish recovery?

News:

🔆GBP/USD rose 0.6% on Tuesday as tariff concerns eased.

🔆President Trump’s trade war rhetoric is easing.

🔆The tariffs, which were originally set to take effect on Tuesday, have been postponed for another 30 days. This is the third time in a row that President Trump has backed off his threat, after securing significant concessions from other countries

Personal view:

🔆GBP/USD has recovered to the 1.248 – 1.250 resistance zone and is expected to trade in this range as it awaits further direction from the US ADP Non-Farm Payrolls data and the Bank of England’s interest rate decision.

🔆The Bank of England (BoE) is widely expected to announce a 0.25% interest rate cut on Thursday. The move could weaken the Pound against the US Dollar, which remains on a strong trend against other currencies.

Plan:

SELL GBPUSD zone: 1.2480 – 1.2500 ❌SL 1.2550

✅TP: 1.2420 – 1.2380 – 1.2300