GBPUSD

The Fed on Wednesday, the Non-Farm Employment data on Friday are the most important developments of the week in terms of interpreting the course of the Dollar Index, especially the EURUSD and GBPUSD pairs. In theoretical terms, index optimism supports the short and medium term expectations of a transition from the Euro and Sterling to the US Dollar. When we focus on today, we will meet the German Growth, US Conference Board Consumer Confidence and Employment Cost Index data. The Classic Dollar Index, while keeping the optimism on the 34 and 100-day averages and the expectation that the trend movement will continue to the level of 107 tested in October 2023 in the foreground, offers a weak tempo in reaction thinking with the desire to stay above the level of 105.50 in the short term. The level of 1.2551 can be followed in intraday upward movements. If this level is exceeded, the resistances of 1.2560, 1.2576 and 1.2585 may become important. In case of possible pullbacks, 1.2535, 1.2526 and 1.2510 will be monitored as support levels. Support: 1.2526 – 1.2510 Resistance: 1.2576 – 1.2585