Forex data GBP/USD
Date : 2025-05-29
Opening : 1.34670
Higher up: 1.35072
Below: 1.34148
Closing : 1.34980

Economic news :
Stock Futures Fade Overnight Gains After Activist Judges Block Trump Tariffs, NVDA Earnings Impress
Markets Sentiment Improves
GBP/USD Outlook: US Court Blocks Tariffs, Eyes on US GDP, PCE

Detailed analysis:
To analyse the Forex market for the GBP/USD pair on 29 May 2025, it is crucial to take into account the price data provided as well as the major economic news influencing the market. Here is a full analysis:

### Technical Analysis

1. **Price movements:**
- Opening:** 1.34670
- Highest:** 1.35072
- Lowest:** 1.34148
- Close:** 1.34980

The GBP/USD pair showed a slight intraday rise, opening at 1.34670 and closing at 1.34980, indicating a moderate appreciation in sterling against the US dollar. The day's high at 1.35072 shows some resistance at this level, while the low at 1.34148 indicates potential support.

2. **Current trend:**
The intraday trend looks bullish, with the close higher than the open, although the movement is not very pronounced. This could indicate consolidation or a weak short-term uptrend.

### Fundamental Analysis

1. **Impact of Economic News:**
- This decision has probably contributed to the improvement in market sentiment, by reducing trade tensions between the United States and its partners, which could have a positive effect on the dollar, although it could also benefit sterling due to a general improvement in market sentiment.
- NVDA Financial Results:** Although directly linked to the equity market, impressive results can stimulate risk appetite, which could favour risky assets such as sterling.
- Expectations for US GDP and Consumer Price Index (CPI):** These data, due shortly, are crucial for assessing the health of the US economy and could influence the Fed's monetary policy decisions, thus impacting the US dollar.

### Short-Term Forecasts

1. **Possible scenarios:**
- Bullish scenario:** If upcoming US economic data (GDP and PCE) come in below expectations, this could lead to dollar weakness, allowing GBP/USD to continue rising. A break above resistance at 1.35072 could pave the way for further gains.
- Bearish scenario:** If US economic data is strong, it could strengthen the dollar, putting downward pressure on GBP/USD. A break of support at 1.34148 could signal a new downtrend.
- Consolidation scenario:** In the absence of strong catalysts, the pair could continue to oscillate in a narrow range around current levels.

### Conclusion

The GBP/USD pair is currently influenced by major economic and political factors, with a slightly bullish trend. Traders should keep a close eye on economic developments in the US, particularly GDP and PCE data, as these are likely to have a significant impact on the short-term direction of this currency pair.