GBPUSD

The GBPUSD pair continues to remain under pressure with the positive trend in the Dollar Index. The preliminary Manufacturing and Services PMI data to be released today could create significant volatility in the markets. Expected interest rate cuts from the BoE and the Fed in the remaining meetings of the year are among other factors that could influence the pair. The US Presidential elections and potential policies of Trump could also support the scenario of strengthening the Dollar. This situation might cause the downward pressure on the GBPUSD pair to persist.

Technically, on the daily chart, the GBPUSD pair is trading below the 34 and 55 period exponential moving averages (1.2980 - 1.3030). This situation might cause the pair to maintain its downward trend. For the pair, the levels of 1.294 - 1.290 - 1.2865 should be monitored as support. The 1.2900 level is a critical point in terms of potential recovery buying or the continuation of the trend. Resistance levels are set at 1.298 - 1.303 - 1.308. The RSI indicator is at the 40 level and exhibits a negative outlook. The pair has experienced a decline of 0.09% compared to the previous day.