GBPUSD

Although the Fed shares the expectation of 1 interest rate cut by the end of the year within the Economic Projection, the fact that 8 members are positive about 2 cuts is currently occupying our agenda as an excuse for the markets to expect 2 interest rate cuts (September and December). While the inflation indicator on one hand and the changes in the employment market on the other hand clarify the timing of possible actions on the Fed side, the messages that the Fed officials will give regarding the process will also be followed carefully in terms of guiding the markets. The daily gain for the parity, which closed at 1.2691 on the previous trading day, was 0.04%. The RSI indicator for the parity, which is below its 20-day moving average, is at 49.29, while its momentum is at 99.76. The 1.2681 level can be followed in intraday downward movements. In case of falling below this level, the supports of 1.2670 and 1.2662 may become important. In possible increases, 1.2708 and 1.2719 will be followed as resistance levels. Support: 1.2681 – 1.2670 Resistance: 1.2708 – 1.2719