Forex analysis - 2025-03-07 (12:50)

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:
**Full analysis of the GBP/USD Forex market**.

**Current trend:**
The GBP/USD pair showed some volatility during the day, opening at 1.28784 and closing at 1.29190, after hitting a high of 1.29444 and a low of 1.28730. The overall trend appears to be slightly bullish, despite intraday fluctuations. The close above the opening level suggests that the buyers had the upper hand at the end of the session.

**Impact of economic news:**
The markets are awaiting US employment data, a key indicator which could have a significant impact on the US dollar. This expectation is creating a degree of caution among investors, which may explain the volatility seen. The employment report could either strengthen the dollar if the figures are better than expected, or cause it to fall if the figures are disappointing. In addition, the fact that the euro remains supported by European news could indirectly influence sterling, given the correlation between the main European currencies.

**Short-term forecasts:**
- Bullish scenario:** If US employment data comes in below expectations, this could weaken the dollar and push GBP/USD higher, potentially above current resistance around 1.29444. A close above this level could pave the way for a continuation towards 1.3000.

- Bearish scenario:** On the other hand, strong US employment figures could strengthen the dollar, putting downward pressure on the GBP/USD pair, with a risk of a return to support around 1.28730. A break below this level could intensify selling pressure.

- Neutral scenario:** If data is in line with expectations, the pair could continue to trade in a narrow range, consolidating around current levels while awaiting further economic indications.

In conclusion, investors should keep a close eye on US economic releases, as they will play a crucial role in determining the short-term direction of GBP/USD. The key technical levels mentioned should also be monitored to identify potential breakout points.