Market Fundamental Analysis for July 8, 2026 GBPUSD​

F
FreshForexTeam

Event to watch today:

21:00 EET. USD - FOMC Meeting Minutes

GBPUSD:

GBPUSDH4.png

The pound enters today’s session with stronger domestic support than the euro. A fresh recruitment survey showed an improvement in temporary hiring and faster starting salary growth. This matters for the Bank of England, which is closely watching wage pressure. Even with slower activity in the services sector, these signals reduce the scope for the central bank to shift toward a softer stance too quickly.

The US dollar remains strong due to geopolitical tension and expectations ahead of the Federal Reserve minutes. This means any recovery in GBP/USD is unlikely to be one-sided. Still, the pound is receiving local support not only from the wage factor, but also from a partial easing of fiscal concerns. The market is assessing the political transition more calmly if the new team keeps budget constraints in place.

Under the baseline scenario, GBP/USD may retain an advantage if investors continue to factor in wage resilience and the Bank of England’s limited room to discuss a rate cut. Risks for the pair are linked to another strengthening of the US dollar and higher oil prices. However, fresh UK data give sterling its own supporting argument. If current conditions remain in place, the buy idea looks justified.

Trading idea: BUY 1.3355, SL 1.3325, TP 1.3445

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