GBPUSD

The GBP/USD pair is trying to find direction as global markets focus on the messages that U.S. President Donald Trump will convey for his new term and the potential interest rate decision of the Bank of Japan. Important data for the week include U.S. housing statistics, the Germany ZEW index, and UK employment data. Additionally, statements to be made at the World Economic Forum are also in the spotlight of the markets. The absence of trading in some markets in the U.S. due to Martin Luther King Jr. Day may limit the volatility in the GBP/USD pair.

From a technical analysis perspective, the GBP/USD pair is trading below the 1.2315 resistance level. In downward movements, support levels of 1.2185, 1.2140, and 1.2100 can be monitored. In the case of potential upward movements, resistance levels of 1.2230, 1.2270, and 1.2315 should be watched. When examining the chart in the hourly time frame, the RSI indicator is at 34, showing a negative outlook. The pair experienced a 0.34% depreciation compared to the previous day.