GBPUSD

We are about to enter a dynamic period in terms of calendar data. Today, Fed Chairman Powell's presentation before the Senate and tomorrow's release of the January CPI data are among the most important developments of the week. Additionally, speeches by Cleveland Fed President Hammack, New York Fed President Williams, and Atlanta Fed President Bostic will be closely monitored. On Thursday, the UK Growth, Swiss CPI, and US PPI data will be tracked, while on Friday, US Retail Sales will be announced.

The Classic Dollar Index is showing an optimistic trend above the 233-day exponential moving average (105.10). The movement above the 34-day average (107.80) reinforces the idea that short-term pressure on EURUSD and GBPUSD will continue. The GBPUSD pair is trading below the 144 and 233-period averages (1.2415 – 1.2455). This situation creates a negative outlook for the pair under the strong DXY momentum. A move below 1.2360 could reinforce this negative outlook.