GBP/USD Price Forecast: Recovers after diving to 1.2500 on Trump’s remarks The Pound Sterling recovered some ground following remarks of US President-Elect Donald Trump late on Monday afternoon, in which he said that once he takes office on January 20, he would impose 25% tariffs on Canada and Mexico and 10% on all Chinese products.

After failing to clear 1.2600 during the European trading hours on Tuesday, GBP/USD lost its traction and closed the day flat.

The Pound Sterling (GBP) moves higher against the US Dollar (USD), extends its upside above the three-day resistance of 1.2600 in Wednesday’s London session.