GBPUSD

Fed Chairman Powell stated that the last 3 inflation data received in the 2nd quarter strengthened the scenario that it was moving towards the target and that expectations that the slowdown would continue gave confidence, but he reiterated that he should wait in the interest rate policy for more demand to be created for the 2% target. While the speeches of Fed officials are on the calendars in general this week. When we look at today, the German ZEW Economic Sentiment from the Euro Zone and the Core Retail Sales data from the US can be followed. The upward movement observed in the dollar index is pressuring the parity downward. The daily loss for the parity, which closed at 1.2963 on the previous trading day, was 0.04%. The RSI indicator for the exchange rate, which is below its 20-day moving average, is at 71.28, while its momentum is at 102.52. The 1.2972 level can be followed in intraday upward movements. If this level is exceeded, the 1.2980 and 1.2985 resistances may become important. In case of possible pullbacks, 1.2958 and 1.2945 will be monitored as support levels. Support: 1.2958 – 1.2945 Resistance: 1.2972 – 1.2980