GBPUSD

The GBP/USD pair continues to be shaped by central banks' messaging for the upcoming period and economic indicators. Market participants are closely monitoring the Fed's guidance regarding its interest rate roadmap, as well as interest rate cut expectations from the ECB and BoC. Additionally, US growth and PCE inflation data, along with Germany and Tokyo CPI figures, play a significant role in international markets. Furthermore, the performance of financial sector giants like Meta, Microsoft, Tesla, Apple, and Amazon is also on investors' radar. Currently, the Dollar Index trading below its 34-day average indicates that the pressure from corrective selling persists in the short term.

From a technical perspective, the GBP/USD pair is testing the 1.2360 level after surpassing the 55-period exponential moving average and is advancing towards the 233-period exponential moving average. This suggests that the pair is reevaluating its trend in the short term. As the pair approaches the 1.2480 resistance level, the negative trend may persist as long as it remains below this level. During upward movements, the 1.25225 and 1.2565 resistance levels should be closely monitored. In case of a downward break, the 1.24, 1.236, and 1.2315 support levels can be tracked. The RSI indicator presents a neutral trend with current data, and a 0.29% decrease is observed in the pair on a daily basis.