dogwifhat’s currency price (WIFUSD) fell in the intraday levels, amid the dominance of the main downward trend in the short term, with negative pressure due to trading below the 50-day SMA, coupled with negative signals from the RSI after reaching overbought levels. 

Therefore we expect more losses for the price, targeting the support of $0.06597, provided it settles below the resistance of $1.07640.

Trend forecast for today: Bearish

March 4, 2025 – Written by Frank Davies

STORY LINK GBP/USD Forecast: Pound Sterling Ticks Up vs Dollar despite Downbeat Trade

Pound Sterling (GBP) firmed against the US Dollar (USD) on Tuesday despite the days negative trading conditions.

At the time of writing, the Pound US Dollar exchange rate was trading at approximately $1.2735, up roughly 0.3% from the start of Tuesday’s session.

On Tuesday, the US Dollar (USD) had difficulty attracting buyers and weakened against several of its major counterparts.

While the ‘Greenback’ did recover somewhat from Monday’s losses following a Europe-led initiative to bring peace to Ukraine, USD exchange rates remained largely under pressure during Tuesday’s European trading session.

Moreover, despite a risk-averse market environment, the US Dollar failed to leverage its safe-haven status as geopolitical concerns and worries about the US economy diminished USD’s appeal.

On Tuesday, the Pound (GBP) traded within a broad range, maintaining its position against many currencies while showing some weakness in others.

This volatility was primarily due to the lack of UK economic data and a generally cautious market sentiment.

After Monday’s positive trading, the market’s negative mood on Tuesday dampened the risk-sensitive nature of Sterling.

Investors were also hesitant to make significant moves on the Pound, ahead of important data releases later in the week.

On Wednesday, the key driver for the Pound US Dollar exchange rate will likely be the release of the latest services PMIs
from both the UK and the US.

The UK’s services PMI for February are expected to show a slight improvement. If the data meets these expectations, it could provide a boost to the Pound.

Additionally, Bank of England (BoE) Governor Andrew Bailey is set to deliver a speech. If his comments lean towards a
more hawkish stance, it could further strengthen the Pound.

For the US Dollar, the latest ISM services PMI for February is also forecast to rise, which could support the ‘Greenback’ in mid-week trading.

Moreover, the US will release its January factory orders, which are expected to show a rebound. This positive data could
further strengthen the USD exchange rates.

Like this piece? Please share with your friends and colleagues:

International Money Transfer? Ask our resident FX expert a money transfer question or try John’s new, free, no-obligation personal service! ,where he helps every step of the way,
ensuring you get the best exchange rates on your currency requirements.

TAGS: Pound Dollar Forecasts

Important DisclaimersThe content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party’s services, and does not assume responsibility for your use of any such third party’s website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.Risk DisclaimersThis website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.

Created on March 04, 2025

• During the trading session on Monday, we’ve seen the euro gap higher to kick off the trading session, pull back a bit, and then rally again before giving up a little bit of momentum right around the 158 yen level.
• The 158 yen level is a minor area of support resistance.
• The most important, I believe at least at this juncture is the 155 yen area of the chart has been a hard floor for some time and I think it probably continues to be so going forward.

Now the question of course is going to be whether or not we can continue this momentum And I think we probably can maybe not so much Because of the euro, but I think because of the yen.

Yen Overdone

The yen is overdone, has been for a while against most currencies, and therefore it’s a little bit of a knock on effect. Let’s be honest here, the yen moves in the same general direction against almost every currency at the same time. So therefore, I think it’s probably only a matter of time before the euro goes looking to the 160 yen level. The 160 yen level also has the 50 day EMA hanging around as well.

So I do think we’ve got a situation where we might be in a bit of a range, but if we can break above the 160 yen level, that would obviously be very bullish. That would allow the Euro to really take off after forming a massive W pattern. I think given enough time though, we’ve got a situation where you’re probably going to see more of a “buy on the dips” type of market and it’s probably going to be very choppy and noisy. I don’t necessarily think we get a clean move here despite the fact that Monday was so strong.

Begin trading our daily forecasts and analysis. Here is a list of Forex brokers in Japan to work with.

• GBP/USD holds above 1.2700 after posting strong gains on Monday.
• The US Dollar stays under pressure on growing fears of a recession.
• Technical buyers could remain interested once 1.2700 is confirmed as support.

GBP/USD benefited from the broad-based selling pressure surrounding the US Dollar (USD) and gained about 1% on Monday. The pair continues to stretch higher in the European session on Tuesday and trades at its highest level since mid-December above 1.2700.

The USD weakened against its major rivals on Monday as the disappointing macroeconomic data releases from the US and US President Donald Trump’s tariffs revived fears over an economic downturn in the US.

The ISM Manufacturing Purchasing Managers Index (PMI) declined to 50.3 in February from 50.9 in January. Additionally, the Employment Index of the PMI survey dropped to 47.6 from 50.3 in the same period, highlighting a contraction in the sector’s payrolls. Other data from the US showed that Construction Spending fell by 0.2% on a monthly basis in January.

The Trump administration’s 25% tariffs on Canadian and Mexican imports, as well as the additional 10% tariffs on Chinese imports, went into effect on Tuesday. Canada and China introduced retaliatory measures, opening the door for a deepening trade war that could further weigh on the US economic outlook.

The US economic calendar will not feature any high-tier data releases on Tuesday. In the second half of the day, Federal Reserve (Fed) policymakers will be delivering speeches. In case Fed officials adopt a cautious tone on growth prospects, citing the trade policy, the USD could continue to weaken and help GBP/USD extend its uptrend.

GBP/USD Technical Analysis

GBP/USD was last seen trading in the upper half of its two-month-old uptrend. Additionally, the Relative Strength Index (RSI) indicator on the 4-hour chart stays above 60, reflecting the bullish stance.

On the upside, 1.2750 (static level) aligns as first resistance before 1.2790 (200-day Simple Moving Average(SMA)) and 1.2820 (upper limit of the ascending channel). Looking south, the immediate support could be spotted at 1.2700 (mid-point of the ascending channel, static level) ahead of 1.2630 (100-day SMA) and 1.2570 (lower limit of the ascending channel, 20-day SMA).

Platinum price started to get the positive momentum, to start covering the recently suffered losses, noticing its fluctuation near the MA55 at 959.00$.

Note that succeeding to hold above 950.00$ will increase the chances of providing new bullish trades, to attempt to record additional gains by targeting 971.00$ and 983.00$ levels, while settling below 950.00$ again will force it to activate the negative attack, to suffer many losses by moving towards 935.00$ first,

The expected trading range for today is between 950.00$ and 971.00$

Trend forecast: Bullish

Platinum price started to get the positive momentum, to start covering the recently suffered losses, noticing its fluctuation near the MA55 at 959.00$.

Note that succeeding to hold above 950.00$ will increase the chances of providing new bullish trades, to attempt to record additional gains by targeting 971.00$ and 983.00$ levels, while settling below 950.00$ again will force it to activate the negative attack, to suffer many losses by moving towards 935.00$ first,

The expected trading range for today is between 950.00$ and 971.00$

Trend forecast: Bullish

Bonk’s currency price returned lower in the intraday levels, confirming the breach of the pivotal support of $0.00001506, amid the dominance of the main downward trend in the short term, with negative pressure from trading below the 50-day SMA, while the price managed to vent off oversold saturation in the RSI. 

Therefore we expect more losses for the price, provided it settles below $0.00001506, targeting the support of $0.0000218.

Trend forecast for today: Bearish 

Hedera Hashgraph’s currency price (HBARUSD) fell in the intraday levels while trying to gather positive momentum and shake off negative pressure from the 50-day SMA, as it also vented off overbought saturation in the RSI, with the price buoyed by a positive pattern that formed in the short term, the Falling Wedge pattern. 

Therefore we expect the price to gain ground, provided it settles above $0.23178, targeting the pivotal resistance of $0.39200.

Trend forecast for today: Likely Bullish 

Created on March 03, 2025

• Renewed selling pressures on the euro against the US dollar EUR/USD with losses around the support level of 1.0375 at the beginning of this week’s trading coincide with the anticipation of financial markets and investors for the European Central Bank’s announcement of interest rates and then the announcement of US employment figures.
• Last week, according to licensed trading companies’ platforms, the euro dollar price rose to the resistance level of 1.0528, but disappointment in resolving the Russian Ukrainian crisis after Trump’s meeting with the Ukrainian president last week contributed to renewed euro selling operations.

European Events Affecting the Euro’s Performance

According to the economic calendar data, the consumer price index in the eurozone is expected to reach 2.3% on an annual basis compared to 2.5% previously, while the core consumer price index is expected to reach 2.6% on an annual basis compared to 2.7% previously. There is some risk aversion in the markets, so the weak report is likely to ease some inflation concerns and give the ECB more confidence to continue easing policy. However, the higher-than-expected numbers are likely to keep markets on edge. The market is expecting a total of 87 basis points of easing by the end of the year.

This week, the European Central Bank is also expected to cut interest rates by 25 basis points, bringing the interest rate to 2.50%. furthermore, we will get the Eurozone’s flash CPI report two days before the meeting, so it is likely to shape their future sentiment. There has been growing concern among some ECB officials about easing interest rates too quickly amid high services price inflation (which has been stuck at around 4% since November 2023) and a tight labour market.

US Tariff Path and Market Impact

The tariffs imposed by US President Trump on major US trading partners are scheduled to take effect in the coming days. Furthermore, investors have been trying to determine potential winners and losers for weeks. Markets were shaken last week after Trump said that tariffs on goods from Canada and Mexico, along with an additional 10% tariff on Chinese goods, would take effect. Recently, he announced 25% tariffs on steel and aluminium and 25% tariffs on goods from the European Union.

Trading Tips:

The euro’s gains will remain vulnerable to a rapid collapse, especially if Trump’s policies hurt the eurozone economy, which is already suffering from other factors and the US dollar has more strength factors.

France’s Credit Rating Downgrade

Continuing the increasing pressure on the Euro’s performance in Forex market trading, Standard & Poor’s Global Ratings placed a negative outlook on its creditworthiness assessment of France, confirming the continued uncertainty about the country’s finances after a long period of political turmoil. The rating agency said in a statement issued late Friday that the change in outlook reflects “rising government debt amid weak political consensus to address France’s large underlying budget deficit, against a backdrop of uncertain economic growth prospects.”

Standard & Poor’s maintained its AA- rating for France, seven notches above junk bonds and in line with the Czech Republic and Slovenia. Standard & Poor’s decision comes as France adopted its 2025 budget this month after a gruelling parliamentary battle that led to the government’s collapse in December. The final finance bill aims to reduce the deficit to 5.4% of economic output this year from 6% in 2024 – a less ambitious adjustment than the initial plan to reduce it to 5%.

The French Finance Ministry said in a statement that the 2025 budget represents a “historic turning point” in efforts to reduce the budget deficit and control debt. The ministry added, “The negative outlook reminds us of the scale of the challenge of reforming our public finances, a challenge that the government is determined to face.”

Standard & Poor’s expects France’s gross domestic product growth to fall below 1% this year, further straining the fiscal outlook.

EUR/USD Technical Analysis Today:

According to the daily chart trading, the EUR/USD price movement around and below the support level of 1.0360 threatens the recently formed upward channel and portends an upcoming move by bears to lower support levels, with the closest being 1.0280 and 1.0200, respectively. Technically, these are sufficient to push technical indicators such as the Relative Strength Index (RSI) and MACD indicator towards strong oversold levels. Conversely, and over the same time frame, the resistance levels of 1.0550 and 1.0640 will remain the most important to begin strengthening the recently formed upward channel. So far, the EUR/USD sell-from-every-upward-level trading strategy is the strongest.

Ready to trade our Forex daily analysis and predictions? Here are the best trading platform for beginners to choose from