Forex data GBP/USD
Date : 2025-06-02
Opening : 1.34537
Higher up: 1.35595
Below: 1.34500
Closing : 1.35230
Economic news :
Futures Slide On Renewed Trade Turmoil As Gold, Oil Spike
ForexLive European FX news wrap: A brand new month but same old story for the dollar
Monday open levels, indicative FX prices, 02 June 2025
Detailed analysis:
### Complete Forex Market Analysis - GBP/USD
#### Date: 2025-06-02
#### Course of the day :
- Opening:** 1.34537
- Highest:** 1.35595
- Lowest:** 1.34500
- fence:** 1.35230
#### Major economic news :
1. **Futures Slide On Renewed Trade Turmoil As Gold, Oil Spike:** Renewed trade tensions sent futures lower, while gold and oil prices surged.
2. **ForexLive European FX news wrap:** The month begins with the same challenges for the dollar, highlighting continued pressure on the US currency.
3. **Monday open levels, indicative FX prices, 02 June 2025 :** Indicative information on opening levels and FX prices for the day.
### Detailed analysis :
#### Current trend :
The GBP/USD pair showed some volatility during the day, moving from a low of 1.34500 to a high of 1.35595, before closing at 1.35230. The general trend appears to be upwards for the day, despite global economic uncertainties. This rise can be attributed to the persistent weakness of the US dollar, which continues to suffer the consequences of trade tensions.
#### Impact of economic news :
News of trade tensions is having a significant impact on financial markets. The rise in gold and oil prices indicates a degree of risk aversion among investors, who are seeking to protect their portfolios against economic uncertainties. This situation is tending to weaken the US dollar, offering support to sterling in the GBP/USD pair. This dynamic is reinforced by news that challenges to the dollar persist, creating a favourable environment for an appreciation of the pound.
#### Short-term forecasts :
There are several possible scenarios for future sessions:
1. **Bullish scenario:** If trade tensions continue to weigh on the US dollar, GBP/USD could continue its uptrend, retesting resistance levels around 1.35595 and potentially breaching them if pressure on the dollar intensifies.
2. **Bearish scenario:** A partial resolution of trade tensions or positive US economic data could strengthen the dollar, pushing GBP/USD to test recent support around 1.34537.
3. **Neutral scenario:** In the absence of any significant economic news, the pair could stabilise around current levels, oscillating in a narrow range while awaiting further economic or geopolitical indications.
Overall, investors should keep a close eye on developments in trade tensions and major economic releases, which could influence the direction of GBP/USD.
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