Forex data GBP/USD
Date : 2025-05-23
Opening : 1.34188
Higher up: 1.35422
Below: 1.34170
Closing : 1.35340

Economic news :
Market Mood Remains Cautious
Market Mood Remains Cautious
GBP/USD Resumes Rally as UK Retail Sales Jump

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

#### 1. **Current trend:**
The GBP/USD pair is showing a bullish trend, as evidenced by the close at 1.35340, close to the day's high of 1.35422. This upward movement is supported by an opening at 1.34188 and a higher close, indicating strong buying pressure throughout the day. The market appears to be in a recovery phase, potentially fuelled by positive fundamental factors for sterling.

#### 2. **Impact of Economic News:**
Recent news indicates that the market remains cautious, but a positive boost has been given by the rise in UK retail sales. This rise in sales is a key economic indicator, often interpreted as a sign of economic health, which may boost investor confidence in sterling. The resumption of the GBP/USD rally is likely to be influenced by this news, which makes the pound more attractive against the dollar.

#### 3. **Short-term forecast:**
- Bullish scenario:** If UK economic data continues to surprise positively and the cautious market sentiment eases, the pair could test new highs above 1.35422. Traders could then target higher resistance around 1.3600.

- Bearish scenario:** Conversely, if cautious sentiment persists or if new negative data emerges (for example, unfavourable developments concerning the Bank of England's monetary policy or geopolitical tensions), the pair could come under selling pressure. In that case, a return to short-term support around 1.34170 could be on the cards.

- Factors to watch:** Future UK economic indicators, monetary policy decisions by the Bank of England and economic developments in the United States, particularly those concerning the Federal Reserve, will play a crucial role in the GBP/USD pair's performance.

In conclusion, although the market is showing short-term bullish trends, caution is still called for due to general economic uncertainty. Investors should keep a close eye on economic and political developments that could influence the future direction of GBP/USD.