GBPUSD - 6 Feb - Official Bank Rate( down )

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GBPUSD trend forecast February 6, 2025

GBP/USD saw renewed buying interest as the US Dollar weakened across the board. Market sentiment improved as investors moved past early-week trade war concerns, while traders in the Cable pair remained focused on the Bank of England’s (BoE) upcoming rate decision.

Meanwhile, US ADP Employment Change data for January exceeded expectations, reporting a gain of 183K jobs compared to the anticipated drop to 150K from December’s revised figure of 176K. Although ADP job reports are not always a reliable predictor of the upcoming US Nonfarm Payrolls (NFP) data, the stronger-than-expected result has reinforced investor confidence in the resilience of the US economy.

Waiting for GBP interest rate today, interest rate cut as expected, selling pressure on GBPUSD pair soon

/// SELL GBPUSD: zone 1.25150 - 1.25000

SL: 1.25500

TP: 40 - 70 - 150pips ( 1.23650)

Safe and profitable trading

6 févr.

Transaction en cours

GBPUSD price is down trending, comment on February 6, 2025