GBPUSD drops amid mixed US economic signals with focus on manufacturing orders and job market data

GBPUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.18%	-24.7 Pips
Week to-date	0.54%	72.7 Pips
June	0.54%	72.7 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

In the United States, there was a notable decline in new orders for manufactured goods in April 2025, as reported by the Census Bureau. The orders fell by 3.7%, a deeper contraction compared to the revised decrease of 3.4% in March. This downturn could be indicative of weakening demand or production capabilities within the manufacturing sector, potentially reflecting broader economic challenges or supply chain issues. However, countering this negative outlook, the U.S. Job Openings and Labor Turnover Survey (JOLTS) reported by the Bureau of Labor Statistics reveals a positive development in the labor market. April 2025 saw an increase in job openings, rising to 7.391 million from a revised 7.2 million in March. This suggests robust labor demand, signaling confidence among employers to fill positions and possibly pointing toward continued economic activity despite the manufacturing slowdown.

The reduction in U.S. manufacturing orders and simultaneous increase in job openings presents a mixed outlook for the U.S. economy; however, it has implications for the GBPUSD currency pair. On Tuesday, GBPUSD dropped by 0.18% to 1.35144, a reflection likely influenced by the contrasting U.S. economic data. The decline in manufacturing orders might weigh on the U.S. dollar due to concerns about economic slowdown, yet the increased job openings could support the dollar by reflecting strong labor market conditions. Given that there are no major events affecting the market today, GBPUSD may remain in consolidation as traders digest the mixed signals and assess future trends. Overall, lacking decisive data in either direction, the pair’s movement might largely depend on broader market sentiment and external factors not covered at the moment.

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What can we expect from GBPUSD today?

GBPUSD on Tuesday dropped -0.18% to 1.35144. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.34842 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.35591 or trades above daily pivot 1.35216. Break above could target R1 at 1.35519. While to the downside, we are looking at 1.34842 (S1) and daily low of 1.34914 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.34914 would indicate selling pressure.

For the week to-date, take note that GBPUSD is mixed as compared to the prior week.

Key levels to watch out:

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