Forex data GBP/USD
Date : 2025-05-08
Opening : 1.32939
Higher up: 1.33562
Below: 1.32400
Closing : 1.32630

Economic news :
ForexLive European FX news wrap: US-UK trade deal looms, BOE vote split raises eyebrows
Inspired Reports First Quarter 2025 Results
Sterling climbs on messy BOE vote split

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

#### Date: 2025-05-08

#### Market Data
- Open:** 1.32939
- Higher:** 1.33562
- Lowest:** 1.32400
- Closing:** 1.32630

#### Major Economic News
1. **US-UK Trade Deal Looms:** Discussions around a trade deal between the US and the UK are ongoing, which could have a significant impact on sterling. A successful deal would likely strengthen the GBP due to the improved economic outlook for the UK.

2. **BOE Vote Split:** The split vote at the Bank of England (BOE) has created uncertainty. A split vote may indicate a divergence of opinion on future monetary policy, which could influence the volatility of the pound.

3. **Inspired Reports First Quarter 2025 Results:** Although less directly related, corporate economic results can reflect general economic health and indirectly influence currency markets.

#### Detailed Analysis

- Current trends:**
The GBP/USD pair showed some volatility during the day, with a high of 1.33562 and a low of 1.32400. The close at 1.32630 indicates a slight fall from the opening. This suggests that, despite the potential positive news regarding a trade agreement, there is a lingering caution in the market, probably due to the uncertainty surrounding the BOE's monetary policy.

- Impact of Economic News:**
Talks on a trade agreement between the United States and the United Kingdom are likely to support the pound in the medium term if they materialise. However, the uncertainty created by the BOE's split vote could limit these gains in the short term. Investors could wait for more clarity on the political direction before taking significant positions.

- Short-term forecast:**
- Bullish scenario:** If significant progress is announced on the trade agreement, or if the BOE clarifies its position in favour of a more accommodative monetary policy, GBP/USD could retest the upper levels around 1.33562.
- Bearish scenario:** Conversely, continued political uncertainty or disappointing economic data could push the pair towards support around 1.32400, or even lower.
- Neutral scenario:** In the absence of clear new guidelines, the pair could consolidate in a narrow range, with movements influenced mainly by technical factors.

In summary, although recent news has the potential to support the pound, current political and economic uncertainties could limit significant movements in the short term. Investors should keep a close eye on developments around the trade deal and BOE statements for indications of future market direction.