GBPUSD

The GBP/USD pair is experiencing a volatile trend due to the strengthening of the dollar in global markets and the theme of a weak sterling. Data such as durable goods orders and the consumer confidence index from the US may be decisive for the direction of the pair. While the strengthening trend of the dollar index might limit the upward movements in the pair, statements from central banks like the Fed and the ECB are also among the developments that investors will monitor carefully. Uncertainties in global markets and the appreciation of the US dollar could create pressure on the GBP/USD pair.

From a technical perspective, the GBP/USD pair may pull back to support levels of 1.24 and 1.236 on the daily chart. For upward movements, resistance levels at 1.248 and 1.2525 are of significance. The RSI indicator is at 45, trending slightly negatively, which may indicate a downward inclination for the pair. The pair has shown a decline of 0.38% compared to the previous day. Currently, the pair is trying to stabilize at the 1.24516 level.