GBPUSD

While our main focus before the June meeting where we can comment on the pace of the US Federal Reserve until the end of the year will be the CPI data on Wednesday, May 15, we are leaving behind a quiet week in terms of data before inflation. In particular, the Classic Dollar Index, which accepted the 34-day average as the bottom and continued its course above the 34 and 100-day averages (104.25 - 104.98 region), brought the strong Dollar, weak Euro and Sterling theme to the fore before the CPI. For now, the Classic Dollar Index keeps on the table the expectation of reaching the 107 level tested in 2023 on the 34 and 100-day averages. The 1.2520 level can be followed in intraday upward movements. If this level is exceeded, the resistances of 1.2529, 1.2541 and 1.2550 may become important. In case of possible pullbacks, 1.2508, 1.2500 and 1.2487 will be monitored as support levels. Support: 1.2508 – 1.2500 Resistance: 1.2541 – 1.2550