Forex data GBP/USD
Date : 2025-06-06
Opening : 1.35749
Higher up: 1.35846
Below: 1.35070
Closing : 1.35210

Economic news :
GBP/USD Price Analysis: Pound Fades Gains Ahead of NFP
Global FX Market Summary: US Nonfarm Payrolls (NFP), ECB, US-China Trade Relations 6 June 2025
FX option expiries for 6 June 10am New York cut

Detailed analysis:
For a full analysis of the GBP/USD forex market on 6 June 2025, let's look at the key factors influencing this currency pair.

### Technical Analysis

1. **Current trend:**
- The GBP/USD pair opened at 1.35749 and closed at 1.35210, indicating a decline over the course of the day.
- The high for the day was 1.35846, while the low was 1.35070, showing some volatility.
- Closing below the opening suggests downward pressure on sterling against the US dollar.

2. **Technical levels:**
- Support:** The 1.35070 level, which represents the day's low, could act as immediate support.
- Resistance:** The 1.35846 level, the high for the day, could serve as short-term resistance.

### Impact of Economic News

1. **Nonfarm Payrolls (NFP):**
- US non-farm payrolls data is a major economic indicator influencing the US dollar. Expectations or surprises regarding the NFP can lead to significant movements in the Forex market.
- If the NFP is higher than expected, this could strengthen the dollar, increasing the downward pressure on GBP/USD.

2. **US-China Trade Relations:**
- Tensions or progress in trade relations between the US and China may affect overall market sentiment and influence demand for dollar-denominated assets.

3. **European Central Bank (ECB):**
- The ECB's monetary policies may indirectly affect the GBP/USD pair by influencing the euro, which has correlations with sterling.

### Short-Term Forecasts

1. **Bullish scenario:**
- If the NFP data comes in below expectations, this could weaken the dollar, allowing the pound to recover.
- An improvement in trade relations between the US and China could also support positive risk sentiment, favouring the pound.

2. **Cashier script:**
- A higher-than-expected NFP would strengthen the dollar, potentially leading to a further fall in GBP/USD.
- Any deterioration in trade relations or restrictive ECB policies could also weigh on the pound.

3. **Neutral scenario:**
- If economic data and geopolitical events are close to expectations, the pair could remain in a consolidation range around current levels.

In short, future movements in the GBP/USD will depend heavily on US economic data, developments in international trade relations and the monetary policies of the major central banks. Traders should keep a close eye on these factors to anticipate the pair's movements.