GBPUSD rises 0.23% amid mixed economic signals and upcoming U.S. data releases

GBPUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.23%	31.2 Pips
Week to-date	0.75%	100.7 Pips
June	0.75%	100.7 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

In April 2025, the United States saw a decline in new orders for manufactured goods by 3.7%, a larger decrease than the revised 3.4% from the previous month of March. This reduction indicates a potential slowdown in the manufacturing sector’s momentum. On the other hand, the Job Openings and Labor Turnover Survey (JOLTS) revealed an increase in job openings, rising to 7.391 million from the revised 7.2 million in March. This suggests that the labor market remains relatively robust with firms still actively seeking to fill positions, despite potential challenges in other sectors like manufacturing. The mixed economic data adds complexity to the overall economic landscape of the United States.

For the GBPUSD currency pair, the decrease in U.S. manufacturing orders may initially exert downward pressure on the U.S. dollar due to concerns over economic growth prospects. However, the increase in job openings could counterbalance this sentiment, as a healthy labor market often supports a stronger currency by indicating economic resilience. On Wednesday, GBPUSD saw a modest rise of 0.23% to 1.35456, showing a consolidative behavior. The potential for further movement may be influenced by the upcoming U.S. Nonfarm Payroll Employment data. A strong reading could bolster the USD, putting downward pressure on GBPUSD, whereas a disappointment might provide further support to the pair. Overall, the mixed economic indicators create an uncertain environment for GBPUSD trading, with the upcoming data releases playing a pivotal role in determining its future trajectory.

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What can we expect from GBPUSD today?

GBPUSD on Wednesday rose 0.23% to 1.35456. 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 1.35043 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.35799 or trades above daily pivot 1.35421. Break above could target R1 at 1.35834. While to the downside, we are looking at 1.35043 (S1) and daily low of 1.35008 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.35799 may suggest continuation after recent positive movement.

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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