Forex analysis - 2025-02-24 (03:23)

Forex data GBP/USD
Date : 2025-02-24
Opening : 1.26500
Higher up: 1.26833
Below: 1.26437
Closing : 1.26816

Economic news :
China's latest action plan shows it's trying to boost foreign investment amid geopolitical tensions
Gold: This Is Why Tons Of Gold Are Flowing To New York (NYSEARCA:GLD)
Stocks To Watch Today: Swiggy, Bharti Airtel, Niva Bupa, Aster DM

Detailed analysis:
To carry out a complete analysis of the GBP/USD forex market on 24 February 2025, we will look at a number of aspects, including price movements, the impact of economic news and short-term forecasts.

### Technical Analysis

1. **Price movements:**
- Opening:** 1.26500
- Higher:** 1.26833
- Lower:** 1.26437
- Closing:** 1.26816

The GBP/USD pair showed a slight uptrend over the course of the day, closing close to the day's high. This indicates moderate buying pressure. The movement between the open and close suggests some volatility, but with a bullish direction.

2. **Technical indicators:**
- Moving Averages:** If the short-term moving average (e.g. 10 days) is above the long-term moving average (e.g. 50 days), this confirms a bullish trend.
- RSI (Relative Strength Index):** An RSI close to 70 could indicate that the pair is overbought, while an RSI close to 30 could signal that it is oversold.

### Impact of Economic News

1. **Geopolitical tensions and Chinese investment:**
- China's efforts to stimulate foreign investment could have an indirect impact on GBP/USD. An increase in risk appetite could strengthen sterling if investors are looking for higher yields, but could also strengthen the US dollar as a safe haven in the event of increased uncertainty.

2. **Gold flows to New York:**
- Significant movements in gold may indicate changes in global risk perceptions. If gold is seen as a safe haven, an influx into New York could suggest economic concerns that could strengthen the US dollar.

3. **Actions to Monitor:**
- Although the specific stocks mentioned (Swiggy, Bharti Airtel, etc.) are not directly linked to GBP/USD, underlying economic activity and investor confidence can influence currencies due to changes in overall market sentiment.

### Short-Term Forecasts

1. **Positive scenarios:**
- If the uptrend continues and UK economic data remains strong, GBP/USD could continue to move towards resistance levels around 1.2700 - 1.2750.

2. **Negative scenarios:**
- In the event of further geopolitical tensions or favourable US economic data, the dollar could strengthen, pushing the GBP/USD pair to test support levels around 1.2600.

3. **Factors to watch:**
- Upcoming UK and US economic releases, such as interest rates, employment figures and PMI indices.
- Geopolitical developments, in particular China-West relations.

To sum up, the GBP/USD pair is showing a slight uptrend, influenced by economic and geopolitical factors. Investors should keep a close eye on economic news and political developments to adjust their positions accordingly.