Forex analysis - 2025-02-24 (15:52)

Forex data GBP/USD
Date : 2025-02-24
Opening : 1.26500
Higher up: 1.26905
Below: 1.26126
Closing : 1.26144

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:
**Full analysis of the GBP/USD Forex market**.

**Date:** 2025-02-24

**Market summary:**

The GBP/USD pair opened at 1.26500, reached a high of 1.26905 and a low of 1.26126, before closing at 1.26144. The day showed a slight downtrend, with the close lower than the opening.

**Current trend:**

The GBP/USD pair came under slight downward pressure during the session on 24 February. This can be attributed to a number of factors, including technical moves after reaching the day's high. Closing below the opening level indicates a predominance of sellers on this particular day.

**Impact of economic news:**

1. **US Dollar Weakness:** Weakness in the US dollar, as noted in the Global FX Market Summary, should theoretically have supported a rise in GBP/USD. However, this weakness seems to have been offset by other factors influencing sterling or profit-taking after recent gains.

2. **Mixed US PMI Data:** Mixed US PMI data may have contributed to intraday volatility. Mixed economic data tends to create uncertainty, which could explain the back-and-forth movements seen in the pair.

3. **Investment news:** Although the article on cheap stocks is not directly relevant to forex, it may influence general market sentiment, prompting traders to adjust their portfolios in line with the broader economic outlook.

**Short-term forecasts:**

1. **Bullish scenario:** If the US dollar continues to show signs of weakness, combined with positive UK economic data, we could see GBP/USD rebound above short-term resistance around 1.26905. A break above this level could pave the way for further gains. A break above this level could pave the way for further gains.

2. **Conversely, if the US dollar recovers thanks to positive economic news or an improvement in market sentiment, the pair could retest support around 1.26126. A break below this level could indicate a continuation of the downtrend.

3. **Factors to watch:** Traders should keep an eye on major economic announcements in the near future, including UK and US economic data, as well as any geopolitical developments that could affect market sentiment.

To sum up, GBP/USD is currently in a consolidation phase, with slight downward pressure. The next few sessions will depend very much on economic factors and movements in the US dollar.