GBPUSD

The GBP/USD pair remains under pressure due to the positive pricing behavior in the Dollar Index. There is still uncertainty about the direction of the pair ahead of the release of Manufacturing and Services PMI data. The likelihood of interest rate cuts in the remaining meetings of the BoE and Fed are among other fundamental factors affecting the pair. The presidential elections in the US and Trump's policies are also causing the dollar to strengthen. Especially the index staying above the 103.25 level continues to exert downward pressure on the GBP/USD and EUR/USD pairs.

Technically, the GBP/USD pair is trading below the resistance levels of 1.298 and 1.303 on the 4-hour chart. These levels could form significant resistance points in the pair's upward movements. On the downside, the 1.294 and 1.290 support levels are being monitored. The RSI indicator is at 44 and shows a negative outlook. The pair recorded a decline of 0.04% compared to the previous day. Staying above the 1.2900 support could increase the short-term recovery potential of the pair, but if the current pressure persists, the 1.2865 support may be tested.