Forex analysis - 2025-02-24 (10:58)

Forex data GBP/USD
Date : 2025-02-24
Opening : 1.26500
Higher up: 1.26905
Below: 1.26254
Closing : 1.26377

Economic news :
10 Best Low Priced Stocks to Invest in Now
Monday morning open levels - indicative forex prices - 24 February 2025
Global FX Market Summary: US Dollar Weakness, Mixed US PMI Data 21 February 2025

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

**Current trends:**

The GBP/USD pair showed a slight downward trend over the course of the day on 24 February 2025. The opening at 1.26500 and closing at 1.26377 indicate moderate downward pressure, despite an attempt to rise marked by a high at 1.26905. The day's low of 1.26254 shows that sterling has lost ground against the US dollar. This trend can be attributed to a combination of technical and fundamental factors, including recent economic data and technical support and resistance levels.

**Impact of Economic News:**

Recent economic news has had a notable impact on the GBP/USD pair. The weakening of the US dollar, mentioned in the global currency market summary, probably offered temporary support to sterling, but the effect was limited. Mixed US PMI data contributed to the dollar's volatility, which influenced the pair's intraday movements. However, the absence of major UK economic data in the recent period has left the pound without a strong catalyst, allowing the dollar to recover some of its losses.

**Short-term forecast:**

There are several possible scenarios for future sessions:

1. **Bullish scenario:** If the US dollar continues to show signs of weakness, due in particular to disappointing economic data or the Federal Reserve's accommodative monetary policy, sterling could benefit from a rebound and retest the resistance around 1.26905. A breach of this level could open the way to higher levels.

2. **Bearish scenario:** On the other hand, if the US dollar regains strength, either through an improvement in US economic data or hawkish comments from the Fed, the pair could continue to fall. In this case, immediate support is expected around 1.26254, and a move below this level could push the pair towards new lows.

3. **Sideways scenario:** In the absence of any major new economic catalysts, the pair could move sideways, oscillating between current support and resistance levels. Traders could then focus on technical signals for short-term opportunities.

In conclusion, the next few sessions are likely to be influenced by developments in the US dollar and the impact of global economic news. Investors should keep a close eye on economic publications and monetary policy announcements to assess potential movements in the GBP/USD pair.