GBPUSD

The GBP/USD pair is being carefully monitored this week ahead of significant economic data such as Non-Farm Payrolls, Unemployment Rate, and Average Hourly Earnings, alongside Service PMI data from Europe and the US. Employment data from the US, in particular, could shape market expectations ahead of the upcoming Fed meeting. CPI and Service PMI data to be announced from Germany could also impact the pound. It should be considered that the movement of the dollar index plays a vital role in the GBP/USD pair and that a strong dollar creates pressure on the pair.

From a technical standpoint, the pair is moving below the 1.2445 resistance level. Unless this resistance area is surpassed, there is a possibility of a pullback towards the 1.24, 1.236, and 1.2315 support levels. In upward movements, the 1.2485 and 1.2525 levels may be monitored as resistance. The RSI indicator is at a level of 45, presenting a neutral outlook. The pair has shown a downward change of 0.16% compared to the previous day, indicating that short-term selling pressure may continue.