GBPUSD

The GBP/USD pair is being closely monitored in a week where many central banks' interest rate decisions and significant economic data are anticipated. As the pre-Christmas activity in global markets continues, the monetary policy decisions of the Fed, BoE, and BoJ, along with inflation and growth data, are the focus of investors. Today, PMI data is particularly in the spotlight, and the results from the Eurozone, Germany, France, the UK, and the US could influence the direction of the markets. The dollar index has started the week with a limited loss, which is among the factors affecting the movements in the GBP/USD pair.

Technically, the GBP/USD pair is trading near the 1.2610 support level, and if this level is broken, a decline towards 1.2565 and 1.2525 levels may be observed. On upward movements, the 1.2665, 1.2700, and 1.2755 resistance levels should be monitored. On the daily chart, the RSI indicator is at the 46 level, indicating a neutral market outlook. Considering the pair has depreciated by 0.12% compared to the previous day, it can be observed that short-term uncertainties may continue.