Gbpusd rises 0.13% as job openings increase and UK GDP remains stable

GBPUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.13%	18 Pips
Week to-date	0.2%	27.4 Pips
July	0.1%	14.2 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD Nonfarm Payroll Employment

What happened lately

In the United States, the latest Job Openings and Labor Turnover Survey (JOLTS) data for May 2025 indicated an increase in job openings, reaching 7.769 million from a revised 7.395 million in April. This increase suggests a robust labor demand, which can contribute positively to the U.S. economy by providing more employment opportunities and potentially driving wage growth as employers compete for workers. The rise in job openings could also reflect business confidence in future economic stability or growth, encouraging firms to expand their workforces.

Meanwhile, in the United Kingdom, the Gross Domestic Product (GDP) for the 12 months ending in the first quarter of 2025 remained steady at 1.3%, showing no change from the previous quarter’s report. Additionally, the 3-month GDP figure for Q1 2025 also remained unchanged at 0.7% compared to the preceding quarter. This stability in the GDP figures suggests a consistent economic environment, but may also indicate a lack of significant growth momentum in the U.K. economy. The unchanged GDP figures could imply that additional stimulus or policy measures might be required to bolster economic expansion and address any underlying structural challenges.

Regarding the GBPUSD currency pair, the exchange rate rose by 0.13% to 1.37448 on Tuesday. The increase in GBPUSD can be attributed to market reactions to the data releases and potentially anticipatory positioning ahead of upcoming economic events. The stable U.K. GDP data signals a predictable economic scenario in the U.K., which might calm market anxieties about economic upheaval, thereby supporting the British pound. Conversely, the U.S. rise in job openings suggests a strong economic outlook, which might bolster the U.S. dollar. However, the effect on GBPUSD could be nuanced, as traders consider not only the current data but also upcoming events, including the high-impact U.S. Nonfarm Payroll Employment report. This report is expected to be a pivotal factor, likely influencing trader sentiment and potentially causing short-term volatility in the currency pair. Therefore, traders and investors will be closely monitoring these developments to gauge the future trajectory of the GBPUSD exchange rate.

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What can we expect from GBPUSD today?

GBPUSD on Tuesday rose 0.13% to 1.37448. Price is above 9-Day EMA while Stochastic is falling in overbought zone.

Updated daily direction for GBPUSD looks bullish as the pair ended higher after Tuesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 1.37879 with break above could target R2 at 1.38309 or figure level area. While towards the downside, we are looking at daily low of 1.37030 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.37885 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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