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 that 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 48.52, while its momentum is at 99.64. The 1.2692 level can be followed in intraday upward movements. If this level is exceeded, the 1.2700 and 1.2706 resistances may become important. In possible pullbacks, 1.2678, 1.2672 and 1.2664 will be followed as support levels. Support: 1.2678 – 1.2672 Resistance: 1.2692 – 1.2700