GBPUSD

The GBP/USD pair is influenced by the strong performance of the US Dollar and developments in global markets. The strengthening of the Dollar Index ahead of important inflation data and speeches by Fed officials from the US is increasing pressure on the Sterling. In the UK, developments in employment and wages are being closely monitored. The effects of US President Trump's policies and the Fed's stance on rate cuts are keeping the Dollar strong against developed country currencies. This week, economic data from the UK and the Eurozone could also have an impact on the direction of the pair.

Technically, the GBP/USD pair is trying to stay above the 1.2820 support level on the 1-hour chart. However, in the case of downward pressure, the levels of 1.2780 and 1.2745 can be watched as support. In upward movements, the resistance levels of 1.2860, 1.2900, and 1.2940 should be monitored. The RSI indicator is at the 45 level, presenting a negative outlook. The pair has depreciated by 0.23% compared to the previous day, and the current price movements are indicating short-term weakness signals. The negative outlook may continue as long as it remains below the 1.2940 level, the control point of the 34 and 55 period exponential moving averages.