Forex analysis - 2025-05-02 (22:51)

Forex data GBP/USD
Date : 2025-05-02
Opening : 1.32713
Higher up: 1.33306
Below: 1.32604
Closing : 1.32640

Economic news :
Markets React To Hints Of Trade Talks Between U.S. And China
Futures Rise Ahead Of Payrolls After China Hints At Trade Talks
Earnings Boost Market Sentiment

Detailed analysis:
### Complete Forex Market Analysis - GBP/USD

#### Current Trend
GBP/USD was slightly volatile on the day, opening at 1.32713 and closing just below 1.32640. The high recorded at 1.33306 indicates that there have been attempts to move higher, but the pullback towards the close suggests downward pressure. The current trend appears to be slightly bearish to neutral on the day, with resistance encountered around the 1.33300 level.

#### Impact of Economic News
Recent economic news is having a significant impact on the market. Hints of a resumption of trade talks between the US and China tend to improve overall market sentiment, which could strengthen the US dollar as a safe-haven asset, putting downward pressure on the GBP/USD pair. In addition, positive expectations for US corporate earnings and employment figures could also support the dollar, contributing to the decline seen in the pair.

#### Short-Term Forecasts
1. **Bullish scenario**: If trade talks between the US and China materialise positively, this could further strengthen market sentiment. However, if the market perceives this as a reduced risk to the global economy, the pound could benefit from renewed confidence, pushing GBP/USD to retest resistance levels around 1.33300.

2. **Bearish Scenario**: In the event of a disappointment in the trade talks or better-than-expected US economic results, the dollar could strengthen further. This would likely put further pressure on the pair, with potential support levels around 1.32500 and 1.32200.

3. **Technical factors**: From a technical point of view, a break below today's low of 1.32604 could signal a continuation of the downward pressure. Conversely, a close above 1.33300 could indicate a potential short-term reversal.

In summary, GBP/USD is currently being influenced by external factors relating to global trade policy and US economic performance. Traders should keep a close eye on economic developments and technical indicators to adjust their strategies accordingly.