Forex data GBP/USD
Date : 2025-07-08
Opening : 1.35990
Higher up: 1.36460
Below: 1.35230
Closing : 1.35850
Economic news :
Futures Rise With Trump Tariff Updates, FOMC Minutes On Deck
GBP/USD Price Analysis: Pound Recovers Amid Renewed Tariffs
What Is Lot Size in Forex? The Key to Controlling Risk and Optimizing Trade Exposure
Detailed analysis:
To carry out a complete analysis of the Forex market for the GBP/USD pair on 8 July 2025, we need to look at several aspects, including price movements, current trends, the impact of economic news, and short-term forecasts. Here is a detailed analysis:
### Current trend
The GBP/USD pair opened at 1.35990 and closed slightly lower at 1.35850, having reached a high of 1.36460 and a low of 1.35230. This fluctuation indicates some intraday volatility, but the close below the opening price suggests slight downward pressure on the day.
### Technical analysis
- Support and resistance:** The immediate support level appears to be around 1.35230, the day's low. Resistance is near 1.36460, the high reached.
- Moving averages:** If short-term moving averages (such as the 20-day MA) are below long-term moving averages (such as the 50- or 100-day MA), this could indicate a continuing downtrend.
- Technical indicators:** The RSI (Relative Strength Index) or MACD (Moving Average Convergence Divergence) indicator could also provide clues as to the strength of the current trend.
### Impact of economic news
The major economic news items mentioned have a significant impact on the GBP/USD pair:
- Trump Tariff Updates:** Tariff updates can influence global market sentiment, affecting risky assets such as currencies. An increase in tariffs could strengthen the dollar as a safe haven, putting downward pressure on GBP/USD.
- FOMC Minutes:** The minutes of the Federal Open Market Committee (FOMC) provide clues as to the future direction of US monetary policy. A more hawkish approach (favouring higher interest rates) could strengthen the dollar, while a dovish approach (favouring lower rates) could weaken the dollar.
- Pound Recovery:** The recovery of the British pound, mentioned in the news, could be due to factors specific to the UK, such as positive economic data or favourable political developments.
### Short-term forecasts
- Bullish scenario:** If economic news favours the pound or weakens the dollar, the pair could retest resistance around 1.36460. A break above this level could open the way to 1.37000.
- Bearish scenario:** If the FOMC minutes signal monetary tightening or if trade tensions rise, the pair could fall towards support at 1.35230. A break below this level could lead to a further fall towards 1.34500.
- Neutral scenario:** In the absence of any significant economic news, the pair could move sideways between 1.35230 and 1.36460.
### Conclusion
The GBP/USD pair is currently being influenced by global economic and political factors, including tariff updates and the outlook for US monetary policy. Traders should monitor economic and political developments closely to assess the pair's future direction. Additional technical analysis, including the use of key indicators and levels, can help identify short-term trading opportunities.
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