Forex analysis - 2025-03-04 (22:50)

Forex data GBP/USD
Date : 2025-03-04
Opening : 1.26999
Higher up: 1.27994
Below: 1.26783
Closing : 1.27951

Economic news :
BlackRock (BLK) Completes Acquisition of Preqin for $3.2 Billion
Forexlive Americas FX news wrap: US data sags, tariffs loom and OPEC+ pumps more
Dollar Climbs Amidst Trade And Geopolitical Jitters

Detailed analysis:
### Complete Forex Market Analysis - GBP/USD

#### 1. **Summary of Market Movements**.
- Open:** 1.26999
- Higher:** 1.27994
- Lowest:** 1.26783
- Closing:** 1.27951

The GBP/USD pair showed bullish momentum throughout the day, closing close to its high, indicating steady buying pressure throughout the session.

#### 2. **Current Trend
The GBP/USD pair showed a bullish trend for the day analysed. The rise from open to close, with a close near the day's high, suggests strong buying interest. This trend could be supported by the economic and geopolitical developments mentioned.

#### 3. **Impact of Economic News
- BlackRock's acquisition of Preqin:** This major acquisition could boost investor confidence in the financial markets, although the direct impact on Forex is limited. However, it could contribute to a general positive sentiment in the financial markets, supporting sterling.

- Weaker US economic data, combined with uncertainty over tariffs and geopolitical tensions, weighed on the US dollar. This is likely to have contributed to the rise in GBP/USD as investors look to diversify away from the dollar.

- Increased OPEC production could influence markets by pushing oil prices lower in the short term. However, the direct impact on the GBP/USD is moderate, unless it affects the global economic outlook and capital flows.

#### 4. **Short term forecast**.
- Bullish scenario:** If buying pressure continues and the dollar continues to face headwinds from trade tensions and disappointing economic data, the pair could test higher resistance levels above 1.2800.

- Bearish scenario:** If risk sentiment improves and the dollar rallies on positive economic news or a resolution of trade tensions, the pair could retreat towards support levels around 1.2700.

- Factors to Watch:** Upcoming economic releases from the UK and the US, as well as any developments in trade and geopolitical tensions, will play a crucial role in the future direction of GBP/USD.

In conclusion, the GBP/USD pair is currently in an uptrend, supported by economic and geopolitical factors affecting the dollar. However, investors must remain vigilant for new developments that could reverse this trend.