Forex data GBP/USD
Date : 2025-03-10
Opening : 1.29139
Higher up: 1.29381
Below: 1.29139
Closing : 1.29340

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

**Market context:**
The GBP/USD pair is often influenced by major economic news from both the UK and the US. As of 10 March 2025, the markets are focusing primarily on US employment data, which could have a significant impact on the US dollar and therefore on GBP/USD.

**Price analysis:**
- Open:** 1.29139
- Higher:** 1.29381
- Lower:** 1.29139
- fence:** 1.29340

The pair opened and closed in a relatively narrow range, suggesting low volatility on this particular day. The fact that the price closed near the day's high indicates slight buying pressure during the session.

**Current Trend:**
The current trend appears to be slightly bullish, as suggested by the close near the day's high. However, this trend could be influenced by forthcoming economic news, in particular the US employment report.

**Impact of Economic News:**
Markets are eagerly awaiting US employment data, which is often a key indicator of US economic health. A strong report could strengthen the US dollar, putting downward pressure on GBP/USD. Conversely, disappointing data could weaken the dollar and push the pair higher.

**Short Term Forecast:**
1. **Bullish scenario:** If US employment data is weak, this could cause the dollar to depreciate, pushing the GBP/USD pair above the immediate resistance level around 1.2940 - 1.2950.
2. **Bearish scenario:** In the event of strong US economic data, the dollar could strengthen, pushing the GBP/USD pair towards support around 1.2900.
3. **Neutral scenario:** If data is in line with expectations, the pair could continue to consolidate in its current range, pending further economic catalysts.

**Conclusion:**
Traders should keep a close eye on economic news, particularly the US employment report, to gauge the future direction of the GBP/USD pair. It would also be prudent to monitor any statements from the central banks of the two countries, which could influence monetary policy and, consequently, the exchange rate.