Forex data GBP/USD
Date : 2025-07-04
Opening : 1.36511
Higher up: 1.36812
Below: 1.36345
Closing : 1.36380
Economic news :
Futures Slide On Latest Trump Tariff Salvo
GBP/USD Correction Deepens With Strong Jobs Data, BoE Uncertainty
Risk Assets Extend Gains but Low Volumes Could Skew Monday Open
Detailed analysis:
### Complete Forex Market Analysis - GBP/USD
#### Market Context
On 4 July 2025, the GBP/USD pair opened at 1.36511, reaching a high of 1.36812 and a low of 1.36345, before finally closing at 1.36380. These movements indicate a slight downtrend for the day, with the pair closing below its opening level.
#### Major Economic News
1. **Futures Slide On Latest Trump Tariff Salvo**: Trump's announcement of new taxes tends to create uncertainty in the markets, which can lead to reduced risk appetite. This may have an impact on sterling, as investors may turn to safe-haven assets such as the US dollar.
2. **GBP/USD Correction Deepens With Strong Jobs Data, BoE Uncertainty**: Strong UK jobs data adds upward pressure on the pound, but uncertainty around Bank of England (BoE) monetary policy could limit gains. Traders can be cautious while waiting for more clarity on the BoE's intentions.
3. **Risk Assets Extend Gains but Low Volumes Could Skew Monday Open**: Risk assets continue to gain ground, but low trading volumes could skew Monday's market open. This means that price movements could be exaggerated due to low liquidity.
#### Technical Analysis
- Current trend**: GBP/USD is in a moderate downtrend. The close below the opening level and the proximity of the day's low suggest selling pressure.
- Key technical levels**:
- Support**: 1.36345 (day's low)
- Resistance**: 1.36812 (day's high)
#### Impact of Economic News
Recent economic news has had a mixed impact on the GBP/USD pair. Strong UK employment data is providing support for the pound, but uncertainty over BoE policy and international trade tensions are weighing on the pair. Investors will be watching BoE statements and trade developments closely for further indications.
#### Short-Term Forecasts
- Bullish scenario**: If the BoE adopts a more hawkish tone in its forthcoming statements, or if trade tensions ease, the pair could rebound towards resistance at 1.36812 and potentially beyond.
- Bearish scenario**: If trade tensions intensify or if the BoE maintains a cautious stance, the pair could continue to fall, testing support at 1.36345 or even lower.
- Neutrality**: In the absence of any significant developments, the pair could oscillate in a narrow range, with low volumes accentuating price fluctuations.
In conclusion, traders should remain attentive to economic and political announcements, while keeping an eye on technical levels for short-term trading opportunities.
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