Forex data GBP/USD
Date : 2025-02-28
Opening : 1.26001
Higher up: 1.26220
Below: 1.25589
Closing : 1.25740
Economic news :
Cable falls to a ten-day low in a sharp turn as alliances begin to crumble
Trade Jitters, Tech Rout And PCE Worries Hit Market Sentiment
ForexLive European FX news wrap: Dollar remains steady going into February home straight
Detailed analysis:
### Complete Forex Market Analysis - GBP/USD
#### Date: 2025-02-28
#### Market Data
- Open:** 1.26001
- Higher:** 1.26220
- Lower:** 1.25589
- Closing:** 1.25740
#### Current Trend
The GBP/USD pair showed a downward trend over the course of the day, marked by a decline from the open to the close. The move towards a ten-day low indicates increased selling pressure, potentially exacerbated by economic and geopolitical factors influencing the market.
#### Impact of Economic News
Recent economic news has had a significant impact on the GBP/USD pair:
1. **Crisis of the Alliances:** Mention of the collapse of the alliances could refer to political or economic tensions affecting sterling. These tensions may increase uncertainty and lead investors to seek refuge in perceived safer assets, such as the US dollar.
2. **Trade and Technology Concerns:** Trade and technology concerns, as well as worries about the Personal Consumption Expenditure (PCE) price index, weighed on market sentiment. This is likely to have strengthened the US dollar against the pound as investors seek to protect themselves against increased volatility.
3. **Dollar stability:** The fact that the dollar remains stable despite the turbulence indicates a steady demand for the US currency, often seen as a safe haven in times of uncertainty.
#### Short-Term Forecasts
There are several possible scenarios for future sessions:
- If political and economic tensions persist, pressure on sterling could continue, pushing the GBP/USD pair to test new lows. Investors will be keeping a close eye on political developments and key economic data to assess the duration and depth of this trend.
- Technical rebound:** A technical rebound could occur if the market considers the pair to be oversold, especially if positive economic news or an easing in geopolitical tensions emerges. However, such a rebound could be limited in the short term by technical resistance around the 1.2600-1.2620 levels.
- Increased volatility:** The continued presence of uncertainty could lead to increased volatility, with rapid and potentially erratic movements in both directions. Traders need to be prepared for such movements and manage their risks accordingly.
In short, the market remains sensitive to political and economic developments. Traders must remain vigilant and adjust their strategies in line with new data and changing market conditions.
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