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

#### Current Trend :
The GBP/USD pair showed a bullish trend on 23 May 2025, as evidenced by the rise in the opening price at the close. The close at 1.35340, close to the high of 1.35422, indicates strong buying pressure throughout the day. This uptrend could be attributed to positive economic factors coming out of the UK, notably an increase in retail sales.

#### Impact of Economic News :
1. **Market Mood Remains Cautious**: Despite cautious market sentiment, GBP/USD has managed to advance. This could indicate that investors have found specific sterling-related reasons to justify long positions. The general cautiousness in the market could be linked to global macroeconomic uncertainties, but this was not enough to dampen optimism about the pound.

2. **GBP/USD Resumes Rally as UK Retail Sales Jump** : The key information here is the increase in UK retail sales, which is a positive indicator of economic health. A rise in retail sales suggests increased consumption, boosting the UK economy and potentially strengthening sterling. This development is likely to have been a major catalyst for the recent rally in GBP/USD.

#### Short Term Forecast :
- Bullish scenario**: If positive economic data continues to support sterling and market sentiment improves, the GBP/USD pair could test and potentially break through recent resistance levels, such as the high reached at 1.35422. A continuation of the upward momentum could see the pair target levels around 1.3600.

- Bearish scenario**: However, if macroeconomic uncertainties or further negative economic news emerge, cautious sentiment could regain the upper hand. In that case, the pair could return to test support levels around the opening of 1.34188 or even lower, towards support at 1.34170.

- Factors to Watch**: Investors should keep an eye on upcoming UK economic releases, such as inflation and employment indicators, as well as any policy statements from the Bank of England. In the United States, economic indicators and monetary policy decisions by the Federal Reserve will also continue to play a crucial role in the pair's direction.

To sum up, although the GBP/USD pair is currently showing bullish strength, traders should remain vigilant to developments in global economic conditions and economic news specific to the two countries.