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**.

### Market context
The foreign exchange market, or Forex, is influenced by a multitude of economic, political and technical factors. The GBP/USD pair, which represents the British pound against the US dollar, is one of the most heavily traded pairs and reflects the relative economic health of the two economies.

### Technical analysis

- Opening and Closing:** The pair opened at 1.34188 and closed at 1.35340. This indicates an appreciation of sterling against the dollar throughout the day.
- Highs and lows:** With a high of 1.35422 and a low of 1.34170, the pair showed moderate volatility, suggesting a degree of uncertainty, but also bullish momentum.
- Current trend:** The pair appears to be in an uptrend, as evidenced by the close near the day's high. This could indicate renewed confidence in sterling.

### Impact of economic news

- Market Mood Remains Cautious:** Despite cautious market sentiment, the pair managed to appreciate. This could be attributed to specific factors strengthening the pound, such as positive economic data.
- UK Retail Sales Jump:** The increase in UK retail sales is a key factor that is likely to have supported the pound. Stronger retail sales suggest robust consumption, which is often interpreted as a positive sign for the economy.

### Short-term forecasts

- Bullish scenario:** If UK economic data continues to be favourable and market sentiment improves, the pair could continue its uptrend. A break above 1.35422 could open the way to higher resistance levels, potentially around 1.36000.
- Bearish scenario:** In the event of a return of risk aversion or unfavourable economic news, the pair could see a downward correction. Immediate support lies around the open at 1.34188, and a move below this could lead to further pressure towards the low of 1.34170.
- Factors to watch:** Market participants should keep an eye on political developments, US economic news and overall market sentiment, which could influence demand for the US dollar.

In conclusion, although the market remains cautious, positive economic data from the UK has given sterling a boost, supporting the current uptrend. However, vigilance is still called for in the face of global uncertainty.