Forex data GBP/USD
Date : 2025-05-23
Opening : 1.34188
Higher up: 1.35422
Below: 1.34170
Closing : 1.35340

Economic news :
Market Mood Remains Cautious
Market Mood Remains Cautious
GBP/USD Resumes Rally as UK Retail Sales Jump

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

**Date:** 2025-05-23

**Summary of the day's movements:**
- Open:** 1.34188
- Highest:** 1.35422
- Lowest:** 1.34170
- fence:** 1.35340

**Technical analysis:**

1. **Current trend:**
- The GBP/USD pair is showing a bullish trend on the day, with a notable rise from the open to the close. The closing movement close to the daily high suggests strong buying pressure, indicating investor confidence in sterling.

2. **Key levels:**
- Support:** Today's low at 1.34170 could serve as short-term support.
- Resistance:** Today's high at 1.35422 could act as immediate resistance.

**Impact of economic news:**

- Market Mood Remains Cautious:** Despite general caution in the markets, sterling enjoyed positive momentum. This caution may be linked to global macroeconomic concerns, but it has not prevented the pair from advancing, suggesting a resilient GBP.

- GBP/USD Resumes Rally as UK Retail Sales Jump:** The release of strong UK retail sales data was a major catalyst for the pair's rise. An increase in retail sales indicates robust domestic consumption, which is often interpreted positively by the markets in terms of economic growth.

**Short-term forecasts:**

- Bullish scenario:** If economic conditions and market sentiment remain favourable, the pair could continue its advance beyond current resistance, potentially testing new highs. Investors will be keeping a close eye on other UK economic indicators to confirm the trend.

- Bearish scenario:** In the event of increased risk aversion or disappointing economic data, the pair could come under downward pressure, moving back towards its identified support. Traders will be paying close attention to global economic news, particularly US data, which could influence the dollar.

**Conclusion:**

The GBP/USD pair has shown strong upward momentum, fuelled mainly by positive economic data in the UK. However, caution is still called for in view of global uncertainties. Investors will need to keep a close eye on economic news to assess whether the uptrend can be sustained in the short term.