Forex analysis - 2025-03-28 (17:12)

Forex data GBP/USD
Date : 2025-03-28
Opening : 1.29507
Higher up: 1.30000
Below: 1.29000
Closing : 1.29485

Economic news :
Markets Digest Sticky PCE Inflation
ForexLive European FX news wrap: Dollar steady, gold holds firmer amid risk averse mood
GBP/USD Stands Strong as UK Policy Shields Pound From Global Trade Tensions

Detailed analysis:
For a complete analysis of the GBP/USD forex market on 28 March 2025, let's take a look at the various elements provided:

### Analysis of market data

- Open:** 1.29507
- Higher:** 1.30000
- Lowest:** 1.29000
- Closing:** 1.29485

The GBP/USD pair showed a slight fall during the session in question, closing slightly below its opening price. The day's high at 1.30000 indicates significant psychological resistance, while the low at 1.29000 shows notable support. Closing close to the opening price suggests a degree of indecision in the market.

### Current trend

The current trend in the GBP/USD pair appears to be relatively neutral to slightly bearish, given the slightly lower close compared with the opening. However, resistance at 1.30000 and support at 1.29000 should be watched for clearer indications of future direction.

### Impact of economic news

1. **Markets Digest Sticky PCE Inflation:** Persistent PCE inflation in the US could keep up the pressure on the Federal Reserve to maintain a tight monetary policy, which may strengthen the US dollar against sterling.

2. **ForexLive European FX news wrap: Dollar steady, gold holds firmer amid risk averse mood:** Risk averse market sentiment could support the US dollar as investors seek safe havens such as gold and the dollar.

3. **GBP/USD Stands Strong as UK Policy Shields Pound From Global Trade Tensions:** UK policy appears to be offering some support to sterling despite global trade tensions, which could limit the pound's losses against the dollar.

### Short-term forecasts

- Bullish scenario:** If the GBP/USD pair manages to break through and hold a position above the 1.30000 resistance level, this could signal a bullish recovery, reinforced by positive economic data or an easing of global trade tensions.

- Bearish scenario:** If support at 1.29000 is breached, this could indicate increased downward pressure, potentially exacerbated by monetary tightening signals from the Fed or negative economic developments in the UK.

In conclusion, GBP/USD could remain in a narrow range in the short term, unless a major catalyst triggers a significant breakout in either direction. Traders should monitor economic developments and key technical levels for indications of future movements.