Forex analysis - 2025-03-28 (11:49)

Forex data GBP/USD
Date : 2025-03-28
Opening : 1.29507
Higher up: 1.30000
Below: 1.29000
Closing : 1.29436

Economic news :
Fresh Tariffs Hit Market Sentiment
Fresh Tariffs Hit Market Sentiment
GBP/USD Climbs as US GDP Strengthens, UK Retail Sales in Focus

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

**1. Current trend:**

The GBP/USD pair showed moderate volatility over the course of the day, opening at 1.29507, reaching a high of 1.30000 and a low of 1.29000, before finally closing at 1.29436. The general trend appears to be slightly bearish, given that the close is below the opening price. However, reaching the resistance level of 1.30000 indicates that there was some buying pressure during the day.

**2. impact of economic news:**

Recent economic news, including the imposition of new tariffs, has probably contributed to some volatility in the market. Tariffs can have a negative impact on market sentiment, as they increase costs for businesses and can slow economic growth. This could explain the downward pressure on the GBP/USD.

On the other hand, the strengthening of US GDP is a supportive factor for the US dollar, making the currency more attractive against sterling. However, attention is also focused on UK retail sales, which could influence sterling if the data is better or worse than expected.

**3. Short-term forecasts:**

- Bullish scenario:** If UK retail sales beat expectations, this could strengthen sterling, pushing the GBP/USD pair above resistance at 1.30500. A sustained breach of this level could pave the way for moves towards 1.30500.

- Bearish scenario:** If the news on tariffs continues to weigh on the market and UK data disappoints, the pair could test support at 1.29000. A break below this level could send the pair down towards 1.28500.

- Neutral scenario:** In the absence of any major economic news, the pair could oscillate in a narrow range between 1.29000 and 1.30000 as traders wait for more clarity on the global economic outlook.

In conclusion, the GBP/USD pair's movements over the coming sessions will depend largely on economic developments and new economic data, both in the United States and the United Kingdom. Traders should keep a close eye on tariff news and key economic releases to adjust their positions accordingly.