Forex data GBP/USD
Date : 2025-05-12
Opening : 1.32695
Higher up: 1.32991
Below: 1.31394
Closing : 1.31990

Economic news :
ForexLive European FX news wrap: US, China strike deal to lower tariffs after talks
Dollar surges higher as US, China bring down tariff levels for further talks
GBP/USD Weekly Forecast: Trade Deal Calms UK Growth Fears

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

#### Market Context
The GBP/USD pair opened at 1.32695 and closed at 1.31990, recording a fall for the day. The high was 1.32991 and the low 1.31394. These movements came against a backdrop of significant economic news, notably an agreement between the United States and China to reduce tariffs, which influenced the US dollar.

#### Current Trend
The current trend in the GBP/USD pair is bearish for the day in question, marked by a higher opening than closing. The pair showed volatility, peaking at 1.32991 before falling back under pressure from the US dollar, which was bolstered by the economic news.

#### Impact of Economic News
News of the agreement between the United States and China to lower tariff levels was a major catalyst for the forex market. The agreement strengthened the dollar, putting downward pressure on the GBP/USD pair. The easing of trade tensions has improved confidence in the US economy, making the dollar more attractive as a safe haven. At the same time, concerns about economic growth in the UK eased thanks to the agreement, but not enough to offset the dollar's strength.

#### Short-Term Forecasts
There are several possible scenarios for future sessions:

1. **Bullish scenario**: If market sentiment remains optimistic following further positive developments in global trade relations, the pound could recoup some of its losses, especially if forthcoming UK economic data is better than expected.

2. **Bearish scenario**: If the dollar continues to strengthen or if unfavourable economic news emerges in the UK, the pair could retest lower levels, potentially below support at 1.31394.

3. **Neutral scenario**: The market could also enter a consolidation phase if economic news remains stable, with the pair oscillating between identified support and resistance levels (1.31394 and 1.32991).

#### Conclusion
Developments in the GBP/USD pair will depend heavily on economic and political developments, particularly those relating to trade relations between the United States and China, as well as UK economic data. Traders should keep a close eye on economic news to adjust their positions accordingly.