Forex data GBP/USD
Date : 2025-04-29
Opening : 1.34343
Higher up: 1.34436
Below: 1.33800
Closing : 1.34030

Economic news :
Man Group PLC : Form 8.3 - Serica Energy plc
Gold Trades Sideways Amid Tariff News and Ongoing Trade Talks
GBP/USD Hits 3-Year High; Momentum Builds Above 1.3400

Detailed analysis:
For a full analysis of the GBP/USD forex market on the given date of 29 April 2025, we will look at a number of aspects, including the current trend, the impact of economic news, and short-term forecasts.

### Current trend
GBP/USD opened at 1.34343 and closed slightly lower at 1.34030, having reached a high of 1.34436 and a low of 1.33800. This variation indicates slight downward pressure over the course of the day, although the pair did reach a three-year high, suggesting an underlying uptrend. The close above 1.3400 shows that the positive momentum is continuing, despite the slight intraday fall.

### Impact of Economic News
1. **Man Group PLC: Form 8.3 - Serica Energy plc**: This announcement mainly concerns the energy sector and could have an indirect impact on the GBP via the impact on UK equities. However, it is not directly linked to Forex unless it influences general confidence in the British economy.

2. **Gold Trades Sideways Amid Tariff News and Ongoing Trade Talks** : Tariff news and trade talks can influence overall risk sentiment. If trade talks are seen as positive, this could support risk currencies, including sterling, due to increased risk appetite. However, gold trading sideways indicates caution in the markets.

3. **GBP/USD Hits 3-Year High; Momentum Builds Above 1.3400** : The fact that the pair has hit a three-year high is a strong indicator of an uptrend. This could be driven by strong fundamentals for the GBP, such as a resilient UK economy or expectations of rising interest rates.

### Short-Term Forecasts
- Bullish scenario**: If the pair manages to maintain its level above 1.3400, we could see a continuation of the uptrend in the short term. Traders could target resistance levels around 1.3450 to 1.3500, depending on future economic developments and market stability.

- Bearish scenario**: If negative economic news emerges or if trade talks go sour, we could see downward pressure on the GBP/USD. In this case, the immediate support level would be around 1.3380, with a risk of falling towards 1.3350 if selling pressure intensifies.

In summary, the GBP/USD pair is showing signs of strength with a recent high, but short-term movements will largely depend on global economic news and market sentiment. Investors should keep a close eye on macroeconomic developments and political announcements that could influence the pair.