GBPUSD

The panic experienced at the beginning of the week entered a normalization process as the Dollar Index approached the 110 level. This situation draws attention as the short-term 34-day average reaches 107.80. The economic developments observed throughout the week are crucial for understanding the direction of the index and, consequently, the pairs. Today, PMI for the services sector and ADP private sector employment data will be followed by the Bank of England's (BoE) announcements tomorrow, and on Friday, the US non-farm payrolls, unemployment rate, and average hourly earnings data.

The Dollar Index, nearing the 110 level, is under pressure as it has not shown a sufficient reaction at this level. The short-term 34-day average is being tested. Although the main indicator maintains its optimism above the 233-day exponential moving average, it should be closely monitored whether the reactions in the short-term indicators will continue. In particular, how these reactions develop in the EURUSD and GBPUSD pairs is a matter of interest. The GBPUSD pair has rebounded from the 1.2270 level, reaching the resistance zone of 1.2440 - 1.2480. Stability above these levels would support a trend change, while stability below would indicate the continuation of the current trend.