Forex data GBP/USD
Date : 2025-07-10
Opening : 1.35860
Higher up: 1.36190
Below: 1.35300
Closing : 1.35730
Economic news :
GBP/USD: Pound Dips as UK GDP Contracts
GBP/USD Eyes Breakdown as Rising Wedge Nears Critical Support
Markets Eye Fed Easing
Detailed analysis:
### Complete Forex Market Analysis - GBP/USD
#### 1. **Market context:**
The Forex market for the GBP/USD pair showed moderate volatility during the session of 10 July 2025. Price movements were influenced by important economic data, notably the contraction in UK GDP and speculation about the US Federal Reserve's monetary policy.
#### 2. **Current trend:**
The GBP/USD pair opened at 1.35860 and closed slightly lower at 1.35730. Intraday fluctuations showed a high of 1.36190 and a low of 1.35300. The overall trend appears to be bearish, which is supported by the contraction in UK GDP, signalling a weakening UK economy.
#### 3. **Impact of Economic News:**
- News of a contraction in UK GDP weighed negatively on sterling, increasing selling pressure on the GBP. This points to a possible technical recession, which could prompt the Bank of England to maintain its accommodative monetary policy.
- Rising Wedge and Critical Support:** The technical chart shows an ascending wedge formation, generally considered to be a bearish continuation pattern. The pair is close to critical support, and a break below could lead to further downside.
- Fed Easing:** Expectations of Fed easing have created an uncertain dynamic for the US dollar. However, the dollar remains relatively stable due to its safe-haven status.
#### 4. **Short-term forecast:**
- Bearish scenario:** If GBP/USD breaks support near 1.35300, this could trigger a massive sell-off, pushing the pair towards lower support levels, potentially around 1.34000.
- Bullish scenario:** In the event of a technical rebound, the pair could retest resistance around 1.36200. However, for a bullish move to be sustained, positive economic data or a change in market sentiment would be needed.
- Factors to Watch:** Traders should keep a close eye on future UK economic announcements, Bank of England decisions, and any Fed statements regarding interest rates and quantitative easing.
### Conclusion
The GBP/USD pair is currently under pressure due to unfavourable economic factors in the UK and continued uncertainty regarding US monetary policy. Traders should remain alert to economic and technical developments that could influence the pair's future direction.
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