GBPUSD

We are on the most important day of the week. Before the Fed meeting on May 1, the markets will reach the result of the PCE Inflation data, which is a leading indicator for inflation and which the Fed also includes in its projections. Following the latest employment and especially inflation data, the markets are pricing the Fed to cut interest rates in September, and the answer to the question of whether this idea will be supported by the PCE data or revised is important in terms of the Dollar Index and therefore the short-term course of EURUSD and GBPUSD. The 1.2505 level can be followed in intraday upward movements. If this level is exceeded, the resistances of 1.2515, 1.2532 and 1.2543 may become important. In possible pullbacks, 1.2488, 1.2477 and 1.2461 will be followed as support levels. Support: 1.2488 – 1.2477 Resistance: 1.2515 – 1.2532