GBP/USD avoids a deeper fall for the time being, but will it last?

The GBP/USD was on the rebound on Friday evening, lifting towards 1.2475. However, as you know now, that Trump tariff news sent it backwards into the US close, where it later closed out the month at 1.2395. Naturally, with the dollar on the charge last night, the Pound fell back immediately on the Asian opening, but comparatively speaking, it held up quite well, with the UK so far not seemingly in the crosshairs of the Trump trade war. Nevertheless, and despite a fall in the EUR/GBP on the Asian opening, the GBP/USD still fell back to a low at 1.2274. It has traded lower since then, reaching a session low earlier this morning at 1.2249. There is no doubt that the UK not yet being on the Trump tariff hit list has stopped it from falling back further. We shall have to see, if that remains the case from now on. If it does then the EUR/GBP dynamic might help it going forward, but much will depend on the path of the EUR/USD from now on. To be honest, it seems only a question of time before that pair has another look at parity. The GBP/USD is right now at 1.2286