Forex analysis - 2025-06-03 (03:50)

Forex data GBP/USD
Date : 2025-06-03
Opening : 1.35421
Higher up: 1.35591
Below: 1.35186
Closing : 1.35210

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:
Here is a complete analysis of the Forex market for the GBP/USD pair based on the information provided :

### Technical Analysis

1. **Current trend:**
- GBP/USD opened at 1.35421 and closed at 1.35210, indicating a slight fall over the course of the day.
- The high for the day was 1.35591 and the low was 1.35186, showing moderate volatility.
- The close is close to the low, which could indicate selling pressure at the end of the day.

2. **Technical indicators:**
- Support and resistance:** Immediate support is near the low of 1.35186, while resistance is around the high of 1.35591.
- Moving averages:** Without specific data on moving averages, it is difficult to comment, but a close below key moving averages (such as the 50 or 200 SMA) could confirm a more pronounced downtrend.

### Impact of Economic News

1. **Futures Slide On Renewed Trade Turmoil:**
- Renewed trade tensions may have a global impact on the currency market, increasing volatility and prompting investors to seek safe havens such as gold.
- This could strengthen the US dollar if investors turn to safer assets, putting downward pressure on GBP/USD.

2. **US Dollar:**
- News that the dollar is continuing to follow the same downward trend could suggest dollar weakness, although the GBP/USD pair has shown a decline, which could be the result of forces specific to sterling or other macroeconomic factors.

### Short-Term Forecasts

1. **Bullish scenario:**
- If trade tensions ease or if positive economic data for the UK is published, the pair could retest resistance at 1.35591.
- A move above this level could open the way to higher levels, around 1.36000.

2. **Cashier scenario:**
- A continuation of trade tensions, combined with negative factors for sterling, could push the pair below support at 1.35186.
- A break below this level could lead to a drop towards 1.35000, or even lower if the selling pressure persists.

3. **Factors to watch:**
- Major geopolitical or economic events influencing market sentiment.
- Key economic announcements from the UK or the US that could influence their respective monetary policies.

In conclusion, the GBP/USD pair is facing downward pressure amid increased volatility due to trade tensions. Traders should keep a close eye on economic and political developments to anticipate future market movements.