Forex analysis - 2025-03-07 (23:01)

Forex data GBP/USD
Date : 2025-03-07
Opening : 1.28784
Higher up: 1.29444
Below: 1.28730
Closing : 1.29190

Economic news :
Markets Brace For U.S. Jobs Data
ForexLive European FX news wrap: Euro stays buoyed, markets wait on US jobs report
GBP/USD - Ready to Finish the Cchannel

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

**1. Current trend:**

The GBP/USD pair rose slightly during the session on 7 March 2025. It opened at 1.28784 and closed at 1.29190, having reached a high of 1.29444. The upward movement, albeit modest, suggests some buying pressure, but it is important to note that the day's low was close to the opening level, indicating volatility and a struggle between buyers and sellers.

**2. impact of economic news:**

Today's economic news focused on expectations for the US employment report. This report is crucial as it can influence the US Federal Reserve's monetary policy decisions. If the employment figures are robust, this could strengthen the US dollar, exerting downward pressure on the GBP/USD pair. However, the wait for this data seems to have kept investors in a wait-and-see stance, which has limited extreme movements in the market.

At the same time, mention of the euro's resilience could have indirect effects on the GBP/USD, as significant movements in the euro could influence capital flows between the major currencies.

**3. Short-term forecasts:**

- Bullish scenario:** If the US jobs report proves disappointing, this could weaken the dollar, allowing GBP/USD to continue its upward movement. In this case, the resistance level to watch would be around 1.2950, with a possible extension to 1.3000 if optimism persists.

- Bearish scenario:** On the other hand, if employment data exceeds expectations, the dollar could strengthen, pushing the pair to retest support levels near 1.2870. A break below this level could pave the way for a drop towards 1.2800.

- Neutral scenario:** If the market adopts a cautious approach pending further economic data or events, the pair could remain in a narrow range, oscillating between 1.2900 and 1.2950, with sideways movements dominating.

Traders will also need to keep an eye on political developments in the UK and statements by Bank of England officials, which could influence sterling independently of US data.