GBPUSD

The GBP/USD pair continues to be influenced by the positive trend in the dollar index. Particularly, upcoming PMI data from the U.S. and the forthcoming BoE and Fed meetings are among the main factors that could affect the pair. The dollar's tendency to remain strong increases the downward pressure on GBP/USD. For this situation to maintain its effect, it is important for the dollar index to stay above its 233-day average. On the other hand, the expectation that BoE and Fed may cut interest rates by the end of the year is also closely monitored by the markets.

Technically, the GBP/USD pair is trading below the 34 and 55-period exponential moving averages in the 1.2980 - 1.3030 range on the daily chart. This trend may cause the pair to remain under pressure, and levels of 1.2900 and 1.2865 can be observed as support. Movements above the 1.2900 support could indicate rebound buying or continuation of the trend. If the downward pressure continues, the 1.2820 level may be considered as another support point on the agenda. The RSI indicator is at 49, showing a neutral outlook. For upward movements in the GBP/USD pair to gain strength, it is necessary to maintain above the resistance levels of 1.298 and 1.303. Compared to the previous day's close, the pair has lost 0.05% in value.