GBPUSD

The GBP/USD pair found support as the Classic Dollar Index approached the 107 level and pulled back from there. Inflation data to be announced from the UK and messages from ECB President Lagarde and Fed officials may have an impact on the pair. The anticipated increase in the UK's inflation data could pressure the Bank of England's monetary policy. These developments could be decisive for the direction of the GBP/USD pair.

Technically, the GBP/USD pair continues to trade below the resistance levels in the 1.2700 and 1.2745 region on the 1-hour chart. It's notable that the pair is moving between the 1.2645 - 1.26 support levels. The RSI indicator is showing a neutral trend at the 47 level. It has been observed that the pair changed by 0.02% during the day. If the downward pressure continues, the pair could retreat to the 1.256 level. For a positive recovery, movements above 1.2700 should be monitored.