Forex analysis - 2025-06-02 (22:53)

Forex data GBP/USD
Date : 2025-06-02
Opening : 1.34537
Higher up: 1.35595
Below: 1.34500
Closing : 1.35420

Economic news :
Futures Slide On Renewed Trade Turmoil As Gold, Oil Spike
ForexLive European FX news wrap: A brand new month but same old story for the dollar
Monday open levels, indicative FX prices, 02 June 2025

Detailed analysis:
To analyse the GBP/USD pair on 2 June 2025, let's look at the key elements:

### Current trend :
The GBP/USD pair opened at 1.34537 and closed at 1.35420, marking a rise on the day. The low for the day was very close to the open at 1.34500, while the high was at 1.35595, indicating a significant upward movement during the session. This upward momentum could indicate positive sentiment towards sterling versus the US dollar for this period.

### Impact of economic news :
1. **Futures Slide On Renewed Trade Turmoil As Gold, Oil Spike** : Renewed trade tensions can have a significant impact on the forex market. In general, heightened uncertainty in global markets can push investors into safe havens such as gold, which can weaken currencies such as the dollar. This may have contributed to the rise in the GBP/USD pair, with sterling benefiting from some support against a potentially weaker dollar.

2. **ForexLive European FX news wrap: A brand new month but same old story for the dollar**: If the "same old story" for the dollar implies continued weakness, this could explain sterling's relative strength in this session. Continued dollar weakness could be attributed to domestic economic factors in the US, such as disappointing economic data or expectations of accommodative monetary policy.

### Short-term forecasts :
- Bullish scenario**: If trade tensions persist and continue to weaken the dollar, GBP/USD could continue its uptrend, with investors seeking to diversify out of the dollar.
- Bearish scenario**: However, if trade tensions ease or if positive economic data emerge in the United States, the dollar could regain strength, leading to a fall in the GBP/USD pair.
- Factors to watch**: Investors should keep a close eye on central bank statements, particularly monetary policy from the Federal Reserve and the Bank of England, as well as any new developments in international trade relations.

In conclusion, the GBP/USD pair currently looks set to rise, supported by trade tensions that are weakening the dollar. However, future movements will depend heavily on economic and geopolitical developments, making the situation uncertain in the short term.