GBPUSD

The GBP/USD pair continues to remain under pressure due to the optimistic pricing behaviors in the Dollar Index. It is anticipated that the pressure on the pair may persist ahead of the preliminary Manufacturing and Services PMI data set to be released this week. Expectations of rate cuts in the last two meetings of the year from both the BoE and the Fed are also creating pressure on the pair. Scenarios in which the U.S. Presidential elections and Trump's policies could strengthen the dollar may be decisive in the markets during this period. Additionally, speeches by ECB President Lagarde and BoE Governor Bailey will also be closely watched by market participants.

From a technical perspective, the GBP/USD pair is moving below the 1.303 resistance level on the 1-hour chart. In the downward movements, the 1.298, 1.294, and 1.29 levels can be monitored as support. If an upward movement begins, the levels of 1.303, 1.308, and 1.3135 will be tracked as resistance. The RSI indicator is at 47, indicating a neutral outlook. The pair shows a slight change of 0.04% compared to the previous day. Overall, if the pair declines toward the 1.298 support level, it may be considered to remain under further pressure.