GBPUSD

The GBP/USD pair is trying to find direction mid-week with PMI data related to the service sectors of the UK and the US, as well as US private sector employment data. Despite the increase in the UK's growth rate, a slowdown in growth was observed in the US side through ISM data. The ADP Private Sector Employment data falling below expectations strengthened the anticipation that the Fed might cut rates by the end of the year. However, market players have not yet given a major reaction, with the focus now on tomorrow's US employment data.

From a technical perspective, the GBP/USD pair is attempting to stay above the 34 and 55 period moving averages at the 1.2665 level. As the pair tests the 1.2720 interim resistance, a potential move towards the 1.2820 main resistance level exists if it holds above this level. On the other hand, it can be said that for downward movements to gain momentum, the 1.2610 support needs to be broken. The RSI indicator is in a neutral state and does not provide a definite signal about the pair's direction. The pair has depreciated by 0.13% compared to the previous day.