GBPUSD

The GBP/USD pair continues to remain under downward pressure, influenced by the strengthening trend observed in the dollar index. The dollar index holding above the 233-day average leads to the maintenance of the pair's downward trend. Particularly, expectations that the Fed may move slowly on interest rates and the mixed trend in Asian indices create a cautious atmosphere in the markets. Positive economic developments in China could have partial effects on the overall market.

From a technical perspective, the GBP/USD pair may test the support levels of 1.298, 1.294, and 1.29. In upward movements, resistance levels of 1.303, 1.308, and 1.3135 should be monitored. The RSI indicator is currently at the level of 45, displaying a negative outlook. The chart shows a decrease of 0.15% compared to the previous day. It is important for the pair to break through the identified resistance levels to gain upward momentum.