Forex analysis - 2025-02-24 (08:56)

Forex data GBP/USD
Date : 2025-02-24
Opening : 1.26500
Higher up: 1.26905
Below: 1.26378
Closing : 1.26410

Economic news :
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Monday morning open levels - indicative forex prices - 24 February 2025
Global FX Market Summary: US Dollar Weakness, Mixed US PMI Data 21 February 2025

Detailed analysis:
**Forex market analysis - GBP/USD** (in French)

**1. Current trend:**
The GBP/USD pair showed a slight downward trend during the session of 24 February 2025. Opening at 1.26500 and closing at 1.26410, the pair lost a few pips over the course of the day. This decline, although modest, could indicate continued downward pressure, particularly if supported by macroeconomic factors or technical data.

**2. impact of economic news:**
Recent economic news is having a noticeable impact on the GBP/USD pair. The report on the weakness of the US dollar, combined with mixed PMI data in the US, could explain some of the volatility seen. Dollar weakness would normally tend to strengthen sterling, but the mixed PMI data points to economic uncertainty that could dampen this momentum. In addition, the article on the "10 best cheap stocks to invest in now" could divert some of investors' attention to the stock market, thereby reducing demand for forex.

**3. Short-term forecasts:**
- Bullish scenario:** If the forthcoming UK economic data is positive, or if the dollar continues to show signs of weakness, we could see the GBP/USD pair rebound towards the short-term resistance level around 1.26905, or even higher.
- Bearish scenario:** Conversely, if UK economic data disappoints or overall market sentiment shifts in favour of the dollar, the pair could test support around the day's low of 1.26378, or even drop further.
- Neutral scenario:** If economic conditions remain unchanged, the pair could oscillate in a narrow range around the current closing level, with low volatility until new economic data or significant events are published.

In conclusion, although the GBP/USD pair has shown slight weakness, underlying economic factors and future data releases will play a crucial role in the pair's short-term direction. Traders should keep a close eye on economic news and technical indicators for clues on the future direction of the market.