Forex analysis - 2025-03-24 (17:52)

Forex data GBP/USD
Date : 2025-03-24
Opening : 1.29025
Higher up: 1.29317
Below: 1.29025
Closing : 1.29300

Economic news :
ForexLive European FX news wrap: Dollar a little lower as risk sentiment picks up
The risk mood keeps more positive so far on the session
Gold: Geopolitical Tensions Keep Prices Afloat, but Fed Signals Could Shift Moment

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

#### Date: 2025-03-24

#### Market Data
- Opening:** 1.29025
- Higher:** 1.29317
- Lower:** 1.29025
- Closing:** 1.29300

#### Major Economic News
- ForexLive European FX news wrap:** The dollar is slightly lower as risk sentiment improves.
- Risk perception:** Positive for the moment.
- Gold:** Geopolitical tensions are keeping prices high, but signals from the Fed could change the dynamic.

#### Detailed Analysis

##### Current Trend
The GBP/USD pair rose slightly during the session, opening at 1.29025 and closing at 1.29300. This indicates a minor uptrend on the day, although the movement is relatively contained. The pair reached a high of 1.29317, showing resistance around this level. The fact that the pair has not crossed this threshold significantly could indicate a short-term consolidation.

##### Impact of Economic News
- Risk Sentiment:** The improvement in risk sentiment seems to have contributed to a slight downward pressure on the dollar, allowing sterling to appreciate slightly against the US dollar. Investors appear to be more willing to take risks, which generally favours more volatile currencies such as sterling.
- Geopolitical tensions and the Fed:** Geopolitical tensions support safe-haven assets such as gold, but the Fed's signals on future monetary policy could influence the markets. If the Fed adopts a more aggressive stance on rate hikes, this could strengthen the dollar and reverse the current trend in the GBP/USD pair.

##### Short-Term Forecasts
1. **Bullish scenario:** If risk sentiment continues to improve and the Fed maintains its accommodative monetary policy, the pair could retest the resistance level at 1.29317 and potentially break through it, paving the way for a short-term target around 1.29500.

2. **However, if negative economic or geopolitical news emerges, or if the Fed indicates an intention to tighten monetary policy, the pair could come under downward pressure. In this case, we could see a return to the 1.29025 support level, or even lower.

3. **Consolidation Scenario:** In the absence of significant catalysts, the pair could continue to trade in a narrow range between 1.29025 and 1.29317, reflecting a consolidation phase before a more pronounced directional movement.

In summary, the GBP/USD pair is showing signs of slight appreciation against a backdrop of positive risk sentiment, but remains sensitive to economic and geopolitical developments. Traders should keep a close eye on Fed announcements and geopolitical developments to assess the pair's future movements.