Forex data GBP/USD
Date : 2025-06-24
Opening : 1.35203
Higher up: 1.35978
Below: 1.35178
Closing : 1.35970

Economic news :
FTSE 100 Records Lower Losses
ForexLive European FX news wrap: Dollar up, markets weigh Iran-Israel developments
Dollar Rebounds Amidst Escalation In Middle East Tensions

Detailed analysis:
To analyse the Forex market for the GBP/USD pair on 24 June 2025, we need to consider several factors, including price data, current trends, and the impact of recent economic news. Here is a detailed analysis:

### Price Analysis

1. **Opening and Closing:**
- The pair opened at 1.35203 and closed at 1.35970, representing a rise for the day.
- This rise suggests buying pressure on the pair, despite the geopolitical tensions mentioned in the news.

2. **Higher and Lower:**
- The high reached was 1.35978, and the low was 1.35178.
- The proximity of the closing price to the day's high indicates persistent bullish sentiment at the end of the session.

### Current trend

- Impact on GBP/USD:**
- The GBP/USD pair showed resilience in the face of geopolitical tensions, closing close to the day's high.
- The current trend appears to be upwards, supported by increased demand for sterling and relative weakness in the US dollar.

### Impact of Economic News

- FTSE 100 Records Lower Losses:**
- Although the FTSE 100 recorded losses, which were described as 'lower', this may indicate a degree of stability or reduced risk aversion, which could have supported sterling.

- Dollar Rebounds Amidst Escalation In Middle East Tensions:**
- The US dollar rebounded, probably as a safe-haven asset in the face of tensions in the Middle East. However, this rebound was not enough to reverse the uptrend in the GBP/USD pair, suggesting that other factors, such as favourable UK economic data or monetary policy expectations, could be playing a role.

### Short-Term Forecasts

1. **Bullish scenario:**
- If sterling continues to receive support, whether from positive economic data or expectations of a rate rise from the Bank of England, the pair could continue to climb, testing resistance above 1.3600.

2. **Cashier script:**
- In the event of an escalation in geopolitical tensions or disappointing economic data from the UK, the dollar could regain ground, pushing the pair to retest support at 1.3520 or lower.

3. **Factors to watch:**
- Geopolitical events, particularly in the Middle East.
- UK economic indicators, such as employment figures and inflation.
- Speeches or announcements by the Bank of England and the Federal Reserve.

In summary, although the GBP/USD pair closed higher, geopolitical tensions and movements in the US dollar will continue to play a crucial role in the coming sessions. Traders need to keep a close eye on economic and political developments to adjust their strategies accordingly.