Forex analysis - 2025-05-09 (00:50)

Forex data GBP/USD
Date : 2025-05-09
Opening : 1.32483
Higher up: 1.33225
Below: 1.32117
Closing : 1.32970

Economic news :
GBP/USD Weekly Forecast: Trade Deal Calms UK Growth Fears
Trade Deal Optimism Boosts Market Sentiment
GBP/USD Forecast: Recovers Amid Dollar Pullback, Trade Talks

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

**1. Current trend:**

The GBP/USD pair showed some volatility over the course of the day, opening at 1.32483 and closing at 1.32970. The day's high of 1.33225 and low of 1.32117 indicate a moderate range. The pair closed higher than it opened, suggesting a short-term uptrend. This trend can be attributed to renewed optimism in the market thanks to positive developments around trade negotiations.

**2. impact of economic news:**

Recent economic news shows that optimism about a trade deal has eased fears about UK economic growth. The trade talks appear to be having a positive impact on sterling, boosting investor confidence. The withdrawal of the US dollar, which is often seen as a safe haven, has also helped the GBP/USD rally. News that trade talks are progressing well has reinforced market sentiment, supporting sterling.

**3. Short-term forecasts:**

In the short term, there are several possible scenarios:

- Bullish scenario:** If the optimism surrounding the trade talks continues and the US dollar continues to show signs of weakness, GBP/USD could continue its uptrend, potentially testing resistance levels around 1.3350.

- Neutral scenario:** If the news surrounding the trade negotiations remains stable without any significant developments, the pair could consolidate around current levels, fluctuating between 1.3250 and 1.3300.

- Bearish scenario:** In the event of negative news or stagnation in trade negotiations, investor confidence could be eroded. Furthermore, if the US dollar strengthens due to internal or external factors, the pair could retreat towards support levels around 1.3200.

**Conclusion:**

The GBP/USD pair continues to be influenced by developments in trade negotiations and the momentum of the US dollar. Investors should keep a close eye on economic news and statements from political leaders, which could influence the pair's direction. Key technical levels to watch include resistance at 1.3350 and support at 1.3200.