GBPUSD

The GBP/USD pair is in a search for direction in the new week, focusing on Manufacturing and Services PMI data alongside the CPI figures from the Eurozone and the UK. The dollar index surpassing the 105.10 level and reaching the October 2023 peak is putting pressure on the Sterling. Uncertainty in Japan's interest rate policies and the possibility of US rates remaining at high levels are among the factors affecting the pair in global markets. In light of these developments, the market continues to assess the likelihood of the Fed making a 25 basis point cut in December.

From a technical perspective, while the GBP/USD pair hovers below the 1.2600 level on the daily chart, the negative trend continues below the 34 and 55 period exponential moving averages, located between the 1.2720 and 1.2780 levels. Support levels at 1.2600, 1.2560, and 1.2520 are monitored in downward movements. In the event of potential upward movements, resistance levels at 1.2645, 1.2720, and 1.2780 can be observed. The RSI indicator is at the 40 level and exhibits a negative trend. The pair shows a decline of 0.11% compared to the previous day.