The GBPUSD rate continues to climb confidently, setting a new three-year high at 1.3443. Market participants are awaiting key US data today, including ADP employment figures and Q1 GDP. Find more details in our analysis for 30 April 2025.
GBPUSD forecast: key trading points
- Market focus: ADP employment data and Q1 GDP figures will be released during the American session today
- Current trend: uptrend in place
- GBPUSD forecast for 30 April 2025: 1.3443 and 1.3300
Fundamental analysis
The GBPUSD pair surged to a three-year high, driven by expectations that the Bank of England will proceed more cautiously with rate cuts compared to other major central banks. Markets are currently pricing in around 85 basis points of easing for 2025, similar to the Fed’s outlook.
Today’s spotlight is on key US economic indicators, with April’s ADP employment report and the Q1 GDP reading scheduled for release. The ADP reading is expected to grow by 118 thousand, with GDP up 0.2%. Stronger-than-expected results could support the US dollar and lead to a pullback in the GBPUSD pair, while weaker data would likely fuel further gains for the pound.
GBPUSD technical analysis
On the H4 chart, GBPUSD shows a strong uptrend, reaching the highest level in three years. The Alligator indicator is directed upwards, confirming bullish momentum. The key support level for the current trend lies at 1.3250.
The short-term GBPUSD forecast suggests that the pair could climb to the 1.3443 resistance level and higher if bulls hold the price above the 1.3400 support line. Conversely, if bears gain a foothold below 1.3400, a downward correction is possible, with the next target at the 1.3300 support level.
Summary
The GBPUSD pair is rising steadily, hitting a new three-year high at 1.3443. All eyes are on today’s US economic releases.
