GBPUSD
The GBP/USD pair remains under pressure due to the optimistic sentiment in the Dollar Index. The preliminary Manufacturing and Services PMI data to be released today are important in terms of their potential impact on the pair. Upcoming central bank meetings, particularly the rate cut possibilities from the BoE and Fed, are among the factors that could influence the direction of the pair. Additionally, the U.S. Presidential election and the effects of Trump's policies on the Dollar are closely monitored topics in the markets. The Dollar Index remaining above the 103.25 level suggests that the selling pressure on GBP/USD could continue.
From a technical perspective, the GBP/USD pair is trading below the 34 and 55 period exponential moving averages located between 1.298 and 1.303 levels on the 4-hour chart. This situation causes the pair to remain under pressure. In downward movements, the support levels at 1.294, 1.290, and 1.2865 can be monitored. Especially the 1.2900 level emerges as a critical zone for the continuation of the trend or a potential recovery. In upward movements, the resistance levels of 1.298, 1.303, and 1.308 can be followed. The RSI indicator on the 4-hour chart is at 45, presenting a neutral outlook. It is observed that the pair has shown a 0.12% decline compared to the previous day.
Support :
Resistance :