GBPUSD coils like a spring ahead of ADP data

The GBPUSD rate is consolidating within the 1.2850-1.3000 range as market participants are awaiting today’s US employment data from ADP. Discover more in our analysis for today, 2 April 2025.

GBPUSD forecast: key trading points

• Market focus: US labour market data from ADP will be published during today’s American session
• Current trend: consolidating within a sideways range
• GBPUSD forecast for 2 April 2025: 1.2850 and 1.3000

Fundamental analysis

According to the latest data, the UK Nationwide House Price Index rose by 3.9% year-on-year in March 2025, matching February’s pace. The British pound remains confined to a narrow price range, with the market anticipating new US trade tariffs.

Today, all eyes are on the US employment data as the ADP report for March is scheduled for release. A gain of 118 thousand jobs is expected. Stronger-than-expected figures could support the US dollar and push the GBPUSD pair lower, while weaker data may allow the pound to maintain its upward trajectory.

GBPUSD technical analysis

On the H4 chart, the GBPUSD pair is consolidating within a limited price range between 1.2850 and 1.3000. The direction of the breakout from this range will determine the pair’s next move. The US employment statistics could act as the catalyst.

The short-term GBPUSD forecast suggests the pair could rise towards the 1.3000 resistance level if the bulls keep the quotes above the 1.2850 support level. Conversely, a downward correction could begin if the bears gain a foothold below 1.2850, with the next target at the 1.2800 support level.

Summary

The GBPUSD pair is consolidating within the 1.2850-1.3000 range. Today, the market will focus on the US ADP employment statistics.