Forex analysis - 2025-03-07 (17:02)

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

#### Current Trend
The GBP/USD pair showed a slight uptrend over the course of the day, opening at 1.28784 and closing at 1.29190. The day's high was 1.29444, indicating some bullish pressure. The pair managed to hold above the opening level, despite a relatively narrow price range, which may suggest consolidation before a possible breakout.

#### Impact of Economic News
The markets are currently awaiting US employment data, a major economic indicator which often has a significant impact on movements in the US dollar. Expectations for this report seem to be keeping the market in a wait-and-see mode, which could explain the moderate movement in GBP/USD.

European news indicating some resilience in the euro could also have an indirect impact on the pair, given the interconnected dynamics of the major currencies. However, the main focus remains on US data, which could give a clearer direction in the short term.

#### Short-Term Forecasts
1. **Bullish Scenario**: If US employment data comes in below expectations, this could weaken the US dollar, causing GBP/USD to move higher. In this case, the pair could retest the 1.29444 resistance level, and potentially target levels around 1.30000 if momentum continues.

2. **Bearish scenario**: Conversely, if the data is better than expected, this could strengthen the dollar, pushing GBP/USD lower. A return to support around 1.28730 would be likely, with the possibility of further downside if selling pressure intensifies.

3. **Consolidation Scenario**: In the event of data in line with expectations, the pair could continue to trade in a narrow range, with limited movements around current levels until new economic catalysts emerge.

#### Conclusion
The GBP/USD pair is currently being influenced by the expectation of US economic data, creating an environment of short-term uncertainty. Traders should keep a close eye on the results of the employment report, as it could define the direction of the pair for the coming sessions. Key levels to watch include 1.29444 for a bullish break and 1.28730 for a bearish break.