Forex data GBP/USD
Date : 2025-03-07
Opening : 1.28784
Higher up: 1.29444
Below: 1.28730
Closing : 1.29190

Economic news :
Markets Brace For U.S. Jobs Data
ForexLive European FX news wrap: Euro stays buoyed, markets wait on US jobs report
GBP/USD - Ready to Finish the Cchannel

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

#### Data of the Day:
- Open:** 1.28784
- Higher:** 1.29444
- Lowest:** 1.28730
- Closing:** 1.29190

#### Major Economic News:
1. **Marksets Brace For U.S. Jobs Data**: Investors are paying close attention to U.S. jobs data, which could influence the dollar and, consequently, GBP/USD.
2. **ForexLive European FX news wrap: Euro stays buoyed, markets wait on US jobs report**: The European market keeps the euro at a high level, but attention remains focused on the US jobs report.
3. **GBP/USD - Ready to Finish the Channel**: Indication that the pair may be ready to finish a consolidation phase or a move within a defined channel.

#### Detailed Analysis:

- Current Trend:**
The GBP/USD pair is showing a slight rise, closing above its opening level. Today's range suggests moderate volatility, with a high at 1.29444 and a low at 1.28730. The close at 1.29190 suggests upward pressure, albeit limited.

- Impact of Economic News:**
Markets are awaiting US employment data, which is often a key indicator of US economic health. An improvement in employment figures could strengthen the dollar, putting downward pressure on GBP/USD. Conversely, disappointing data could weaken the dollar and support sterling.

The focus on the jobs report may also create uncertainty and increased volatility in the coming sessions, as traders adjust their positions based on the release of the data.

- Short Term Forecast:**
There are several possible scenarios for future sessions:

1. **Positive scenario for the GBP:** If US employment data comes in below expectations, the pound could strengthen against the dollar, pushing the GBP/USD pair above resistance around 1.29444.

2. **Negative scenario for the GBP:** If the employment figures are better than expected, the dollar could strengthen, causing the pair to fall towards support at 1.28730 or below.

3. **Consolidation:** In the absence of any major surprises in the data, the pair could continue to trade in a narrow range, waiting for new catalysts.

In conclusion, the GBP/USD pair is currently being influenced by the expectation of US economic data. Traders should keep a close eye on these developments and adjust their strategies accordingly.