Forex analysis - 2025-03-07 (02:51)

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:
For a complete analysis of the GBP/USD forex market on 7 March 2025, let's look at the following elements:

### 1. current trend

The GBP/USD pair opened at 1.28784 and closed at 1.29190, indicating a slight upward movement over the day. The high for the day was 1.29444 and the low was 1.28730, showing some intraday volatility. This rise could signal a short-term uptrend, but it is important to take external factors into account.

### 2. impact of economic news

Major economic news includes expectations around US employment data. This type of data can have a significant impact on the US dollar and, consequently, on GBP/USD. If the employment data is better than expected, it could strengthen the dollar, putting downward pressure on the GBP/USD pair. Conversely, weaker-than-expected results could weaken the dollar and push the pair higher.

The European news suggests that the euro remains supported, which could also indirectly influence sterling due to the correlation between the main European currencies.

### 3. Short-term forecasts

#### Possible scenarios for future sessions :

- Bullish scenario:** If US employment data is disappointing, GBP/USD could continue to rise above immediate resistance around 1.29444. A sustained breach of this level could open the way to 1.3000.

- Bearish scenario:** If the employment figures beat expectations, bearish pressure could push the pair back towards its opening level of 1.28784, or even lower, potentially testing support at 1.28730.

- Neutral scenario:** In the event of employment figures meeting expectations, the pair could stabilise around current levels, with limited movements until further economic catalysts emerge.

### Conclusion

The GBP/USD pair is currently being influenced by expectations surrounding US economic data. Traders should keep a close eye on the release of the employment figures to adjust their positions according to the results. Key technical levels to watch include resistance at 1.29444 and support at 1.28730, which could guide the pair's short-term movements.