Forex data GBP/USD
Date : 2025-04-21
Opening : 1.32841
Higher up: 1.34218
Below: 1.32765
Closing : 1.33880

Economic news :
US dollar bounces but it's still an ugly picture
Gold Surges to Record Highs Amid Rising Tariff War Fears and Geopolitical Tensions
Kraken Expands into Forex Market with FX Perpetual Futures

Detailed analysis:
Analysis of the Forex market for the GBP/USD pair on 21 April 2025 reveals a number of interesting aspects and factors influencing movements in this currency pair.

### Current trend

The GBP/USD pair showed some volatility over the course of the day, opening at 1.32841, hitting a high of 1.34218 and a low of 1.32765, before finally closing at 1.33880. This progression indicates upward pressure over the course of the day, with the close significantly higher than the opening price. This may suggest that sterling has strengthened against the US dollar over this period.

### Impact of economic news

1. **US Dollar Bounces but it's Still an Ugly Picture**: This news indicates that, although the US dollar has shown signs of recovery, overall sentiment remains negative. This may have contributed to the upward pressure on the GBP/USD pair, as a weaker dollar makes the pound more attractive.

2. **Gold Surges to Record Highs Amid Rising Tariff War Fears and Geopolitical Tensions**: The rising price of gold, often seen as a safe haven, suggests increased economic uncertainty and geopolitical tensions. This may have an indirect impact on GBP/USD as investors seek to diversify their portfolios and hedge against risk, potentially favouring currencies perceived as more stable, such as sterling.

3. **Kraken Expands into Forex Market with FX Perpetual Futures**: The entry of Kraken, a well-known cryptocurrency platform, into the Forex market with derivatives such as perpetual futures could bring new liquidity and increased volatility to the FX market. This could influence the GBP/USD pair by increasing trading volumes and attracting new players to the market.

### Short-term forecasts

There are several possible scenarios for future sessions:

- Bullish scenario**: If geopolitical tensions continue to escalate and the US dollar remains under pressure, sterling could continue to strengthen against the dollar, pushing GBP/USD higher. The next resistance level to watch could be around 1.3450.

- Bearish scenario**: If the US dollar manages to recover significantly, perhaps on the back of positive economic news or easing geopolitical tensions, GBP/USD could see a downward correction. The key support to watch would be around 1.3300.

- Neutral scenario**: If the markets consolidate, the pair could move in a narrow range around its current close, with traders waiting for clearer signals before taking positions.

In conclusion, although the GBP/USD is currently trending upwards, economic and geopolitical uncertainties remain high, and traders should remain vigilant for future developments that could influence the movements of this currency pair.