Forex analysis - 2025-02-24 (03:35)

Forex data GBP/USD
Date : 2025-02-24
Opening : 1.26500
Higher up: 1.26852
Below: 1.26437
Closing : 1.26835

Economic news :
Monday morning open levels - indicative forex prices - 24 February 2025
Global FX Market Summary: US Dollar Weakness, Mixed US PMI Data 21 February 2025
Mixed Sentiment In World Markets

Detailed analysis:
**Comprehensive analysis of the GBP/USD Forex market**.

**Date:** 2025-02-24
**Opening:** 1.26500
**Higher:** 1.26852
**Lower:** 1.26437
**Closing:** 1.26835

### Detailed Analysis

**Current trends:**

The GBP/USD pair showed a slight uptrend on 24 February 2025, as evidenced by the close near the day's high. The upward movement, albeit moderate, indicates some strength in sterling against the US dollar.

**Impact of Economic News:**

1. **Weak US Dollar:**
Recent reports of US dollar weakness are likely to have contributed to the rise in the GBP/USD pair. Dollar weakness can be attributed to macroeconomic factors, such as mixed US PMI data, which tend to have a negative influence on the dollar.

2. **US Mixed PMI data:**
The mixed PMIs (Purchasing Managers' Index) signal uncertainty about the strength of the US economy. This may reduce the dollar's appeal as a safe haven, allowing sterling to gain ground.

3. **Mixed sentiment on world markets:**
The overall mixed sentiment on global markets reflects uncertainty among investors, which could lead to increased volatility in the coming sessions. Investors could turn to assets perceived as more stable, which could benefit the pound if volatility persists.

**Short-term forecast:**

1. **Bullish scenario:**
If US economic data continues to show signs of weakness and sterling benefits from positive news (e.g. strong UK economic data or favourable monetary policy), GBP/USD could continue to rise, targeting levels above the immediate resistance of 1.2700.

2. **Cashier script:**
Conversely, renewed strength in the US dollar, potentially triggered by more favourable economic data or a change in investor sentiment, could push the pair to retest its recent support around 1.26500 or lower.

3. **Neutral scenario:**
In a scenario where economic conditions remain unchanged and the news brings no surprises, the pair could move in a narrow range, oscillating between 1.26500 and 1.27000, as investors await further indications.

**Conclusion:**

The GBP/USD pair currently appears to be benefiting from the weakness of the US dollar and economic uncertainty in the United States. However, investors should remain alert to potential changes in market sentiment and economic news that could quickly alter the current momentum.