Forex data GBP/USD
Date : 2025-05-23
Opening : 1.34188
Higher up: 1.35156
Below: 1.34170
Closing : 1.34860

Economic news :
GBP/USD Resumes Rally as UK Retail Sales Jump
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Detailed analysis:
For a complete analysis of the Forex market for the GBP/USD pair on the given date, let's look at the various elements in detail:

### Technical Analysis :

1. **Current trend:**
- GBP/USD opened at 1.34188 and closed at 1.34860:** The GBP/USD pair showed a bullish trend on the day, closing higher than it opened.
- Today's high at 1.35156 indicates potential resistance, while the low at 1.34170 could serve as short-term support.
- Japanese candlesticks:** The formation of candlesticks with a close above the opening could reinforce bullish sentiment.

2. **Technical levels:**
- Support:** 1.34170
- Resistance:** 1.35156
- Moving averages:** If available, check whether the moving averages (such as MA50, MA100) are below the current price, which could indicate an uptrend.

### Impact of Economic News :

- UK Retail Sales Jump:** An increase in UK retail sales is generally positive for sterling, as it reflects robust consumption and a growing economy. This has probably contributed to the rise in the GBP/USD pair.
- Global context:** The absence of other major US dollar-specific economic news in this analysis suggests that sterling's strength has been the main driver of the pair.

### Short Term Forecast :

1. **Bullish scenario:**
- If the positive momentum continues, the pair could retest the 1.35156 resistance level. A break above this level could open the way to higher levels.

2. **Cashier script:**
- If investors take profits or if unfavourable economic news emerges, the pair could move back towards the 1.34170 support level. A break below this level could indicate a short-term trend reversal.

3. **Factors to watch:**
- Upcoming economic reports, such as inflation and employment data, could influence the pair.
- Monetary policy:** Statements by central banks such as the Bank of England and the Federal Reserve could also have a significant impact.

In conclusion, the GBP/USD pair is currently showing signs of strength, mainly supported by good economic news in the UK. However, traders need to remain alert to economic news and key technical levels to adjust their strategies accordingly.