GBP/USD Consolidates Near 1.3550 Ahead of UK Jobs and US Inflation Data

GBP/USD Holds Steady Ahead of Critical UK and US Economic Releases

Forex Market Update – June 10, 2025

The GBP/USD currency pair remains rangebound near 1.3550 early this week, following a drop below the 1.3600 handle. The market is in a holding pattern as traders anticipate high-impact data from both the United Kingdom and the United States over the next two days.

Key UK Jobs Data and US Inflation in Focus

Markets are bracing for a significant influx of data, starting Tuesday with UK labor and wage growth reports. Analysts expect a slowdown in core average earnings to 5.4% for the quarter ending April. Additionally, the Claimant Count Change is projected to show a rise, with an estimated 9.5K increase in jobless claims.

Meanwhile, the US inflation report for Q2, due midweek, will be crucial for gauging the Federal Reserve’s next move on interest rates.

Related Insight: How Inflation Trends Influence Central Bank Policies

Trade Tensions Linger in the Background

Trade discussions between the Trump administration and Chinese officials are underway in London, keeping global sentiment on edge. Investors are watching closely to see if either side makes enough concessions to ease current tariff threats and tech-sector restrictions.

A meaningful resolution could provide risk support and lift global currencies like the British Pound (GBP), while a breakdown may stoke demand for the US Dollar (USD) as a safe-haven asset.

GBP/USD Technical Outlook

Despite current consolidation, GBP/USD retains a bullish longer-term bias, but a short-term ceiling appears to be forming just above 1.3600. A clear breakout or breakdown will likely depend on this week’s macroeconomic data outcomes.

Conclusion

The next 48 hours will be critical for GBP/USD direction. Key data from the UK labor market and US inflation figures will shape short-term price action. Cautious optimism remains, but volatility could increase sharply with any surprise in the numbers or trade headlines.