Forex analysis - 2025-07-02 (13:00)

Forex data GBP/USD
Date : 2025-07-02
Opening : 1.37450
Higher up: 1.37525
Below: 1.36547
Closing : 1.36590

Economic news :
ATFX Releases Q3 2025 Trader Magazine: Your Essential Guide to Global Markets in Uncertain Times
GBP/USD at the top of a bullish channel
Dollar holds steadier but all eyes will be on the US jobs report tomorrow

Detailed analysis:
To carry out a complete analysis of the GBP/USD forex market on 2 July 2025, we need to look at a number of aspects, including price movements, economic news and short-term forecasts.

### Price Analysis
- Opening:** 1.37450
- Highest:** 1.37525
- Lower:** 1.36547
- Closing:** 1.36590

GBP/USD opened at 1.37450 and closed slightly lower at 1.36590, after hitting a low of 1.36547 and a high of 1.37525. This indicates a day of bearish movement despite a slight initial rise, suggesting selling pressure on the pair.

### Current trend
The fact that the GBP/USD is at the top of a bullish channel indicates that, although the day ended lower, the overall trend could still be bullish. However, the close near the day's low could signal a possible correction or short-term reversal if channel support is tested and fails to hold.

### Impact of Economic News
1. **ATFX Magazine:** Although the magazine is an informative resource, its direct impact on prices is probably limited. However, it can influence traders' perception of global trends.

2. **Bullish channel:** The fact that the pair is at the top of a bullish channel may boost buyers' confidence, but it will also depend on the pair's resilience in maintaining this level.

3. **Dollar stability:** The focus on the forthcoming US employment report could hold back major movements until it is published. A positive report could strengthen the dollar, weighing on GBP/USD.

### Short-Term Forecasts
1. **Bullish scenario:** If the support of the bullish channel is maintained and the US employment report does not exceed expectations, the pair could rebound towards the opening levels or higher, thus continuing in the bullish channel.

2. **Bearish scenario:** If the employment report is favourable for the dollar, or if the channel support is broken, the pair could continue to fall towards lower support levels, potentially testing 1.3600 or below.

3. **Neutral scenario:** In the absence of any surprises in the employment report and if current technical levels are respected, the pair could consolidate around the current close while awaiting clearer direction.

### Conclusion
The GBP/USD pair is showing short-term downward momentum despite a general uptrend. The next steps will depend heavily on the results of the US employment report and the GBP/USD's ability to maintain its uptrend channel. Traders should keep a close eye on key support and resistance levels, as well as major economic developments.