Forex analysis - 2025-06-04 (14:50)

Forex data GBP/USD
Date : 2025-06-04
Opening : 1.35128
Higher up: 1.35487
Below: 1.35008
Closing : 1.35360

Economic news :
Kraken Partners with Ivy to Enable Instant Bank Payments for European Crypto Users
Dollar a touch lower in European morning trade
GBP/USD Holds Near Three-Year High as Pound Shows Resilience

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

**Date:** 2025-06-04
**Open:** 1.35128
**Highest:** 1.35487
**Lower:** 1.35008
**fence:** 1.35360

**Major Economic News:**
- Kraken partners with Ivy to enable instant bank payments for European crypto-currency users.
- The dollar was down slightly in morning trading in Europe.
- The GBP/USD pair is holding close to a three-year high, while the pound is showing its resilience.

**Detailed analysis:**

- Current trends:**
The GBP/USD pair has shown some resilience, holding close to a three-year high. The overall trend appears bullish, supported by a weak US dollar and increased confidence in sterling. The GBP's stability could be attributed to strong domestic economic factors and a positive perception of the UK economy.

- Impact of Economic News:**
- Kraken and Ivy:** Kraken's announcement could have an indirect impact on the Forex market by strengthening the position of crypto-currencies and potentially attracting additional capital to Europe. However, the immediate impact on GBP/USD is likely to be limited.
- The slight fall in the US dollar is contributing to sterling's relative strength. A weaker dollar makes GBP-denominated assets more attractive, which could support the GBP/USD pair.
- This resilience in the pound could be underpinned by solid economic fundamentals in the UK, such as stable economic growth and supportive monetary policies.

- Short-term forecast:**
- Bullish scenario:** If the dollar continues to weaken and UK economic data remains positive, GBP/USD could test new highs above 1.3550. The next technical resistances could be around 1.3570-1.3600.
- Bearish scenario:** In the event of a strengthening dollar or unfavourable UK economic data, a pullback towards 1.3500 support is possible. A break below this level could pave the way for a move towards 1.3450.
- Factors to watch:** Traders should monitor upcoming economic announcements from the UK and the US, as well as any geopolitical developments that could influence the market's perception of risk.

To sum up, the GBP/USD pair is currently in an uptrend, supported by a weakening dollar and a strong pound. The short-term outlook remains positive, although traders should remain alert to potential changes in the global economic landscape.