GBPUSD

Although it started from the 110 level, optimism continues in the medium-term outlook of the Classic Dollar Index. In the weekly bulletin, we noted that the 106.45 - 105.70 range, where the 21-week average lies, is critically important. The index's rebound after reaching the 106.45 level strengthens the notion that the correction has ended. In the coming days of the week, we will monitor whether the index will remain above this critical area.

The GBPUSD pair came under pressure following its rise above the 1.2615 level, coinciding with the recovery in the DXY. If the mentioned reversal occurs in the DXY, it will be necessary to be prepared for downward pressures on the pair. For such pressure, persistent movements below the 1.2450 - 1.2480 range, where the 144 and 233 period averages are located, should be observed. However, it is important to note that no breakout has yet occurred and the positive trend is still ongoing.