Forex analysis - 2025-07-04 (04:51)

Forex data GBP/USD
Date : 2025-07-04
Opening : 1.36511
Higher up: 1.36685
Below: 1.36447
Closing : 1.36580

Economic news :
USD Rises Against Major Currencies on Strong U.S. Employment Data
Markets Digest The Strong Jobs Data From U.S.
Futures Coiled At Record High Ahead Of Closely Watched Jobs Report

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

**Date:** 2025-07-04

**Market data:**
- Opening:** 1.36511
- Higher:** 1.36685
- Lowest:** 1.36447
- Closing:** 1.36580

**Major economic news:**
- The US dollar gained ground against the major currencies, buoyed by solid US employment data.
- The market is digesting the robust US employment data.
- Futures contracts reached record levels ahead of the eagerly awaited publication of the employment report.

**Detailed analysis:**

- Current trend:**
The GBP/USD pair showed a slight rise over the course of the day, closing slightly higher than at the open. However, the trading range remained relatively narrow, indicating some indecision among traders. The current trend seems to be influenced by the strength of the US dollar, which has been supported by favourable economic news.

- Impact of economic news:**
Strong US employment data strengthened the dollar, putting downward pressure on GBP/USD. Positive employment news generally raises expectations of tighter monetary policy from the Federal Reserve, which can further support the dollar. Traders are keeping a close eye on these developments to gauge the pair's future movements.

- Short-term forecasts:**
In the short term, there are two main scenarios:
1. **Continued strengthening of the dollar:** If US economic data continues to beat expectations, GBP/USD could see further downward pressure, potentially testing support around the 1.3640 level.
2. **Technical rebound in the GBP:** If the market considers the dollar to be overbought or if positive news emerges from the UK, we could see a technical rebound, with the pair retesting the resistance levels around 1.3670.

Traders should keep a close eye out for further economic news, particularly concerning the UK economic indices and statements by monetary policymakers, which could influence the pair's future direction.