Forex data GBP/USD
Date : 2025-04-08
Opening : 1.27000
Higher up: 1.28000
Below: 1.27000
Closing : 1.27763

Economic news :
Dollar stays on the backfoot in European morning trade
Gold Falls as US Dollar Strengthens on Tariff Fears and Recession Risks
Little on the agenda in Europe today

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

**1. Current trend:**

The GBP/USD pair showed some volatility during the day, opening at 1.27000 and closing at 1.27763. The day's high of 1.28000 indicates that the pair attempted to climb above the opening level, but was limited by resistance. The close above the open suggests a slight intraday uptrend, but the relatively narrow price range indicates some market hesitation. The pair found solid support at the 1.27000 level, which was tested but not broken.

**2. impact of economic news:**

Economic news that the dollar remained on the defensive in European morning trade probably contributed to the slight rise in the GBP/USD pair. This suggests that sterling has benefited from a temporary weakening in the US dollar. However, the mention of gold falling on dollar strength, driven by fears of tariffs and recession, indicates general uncertainty in the market, which could limit sterling's gains. The absence of major events in Europe could also mean that movements are mainly influenced by developments in the US.

**3. Short-term forecasts:**

- Bullish scenario:** If the dollar continues to show weakness and concerns about tariffs and the recession persist, GBP/USD could retest the 1.28000 resistance level. A break above this level could pave the way for a rise towards 1.28500.

- Bearish scenario:** If the dollar recovers its strength thanks to positive economic data or an easing of trade tensions, the pair could fall back towards the 1.27000 support level. A break below this level could lead to a drop towards 1.26500.

- Neutral scenario:** In the absence of any major catalysts, the pair could continue to trade in a narrow range between 1.27000 and 1.28000, with movements influenced by technical rather than fundamental factors.

In conclusion, traders should keep a close eye on economic developments in the United States, as well as any statements or events likely to influence the perception of commercial and economic risks.