GBPUSD

We are leaving behind a week in which we tried to get messages about what the next move of important central banks such as the Fed, ECB and BoE will be in light of the latest developments. While 3 interest rate cuts for the Fed, 2 for the ECB and 1 for the BoE are within the pricing area in the swap market, Fed members are optimistic that they can increase the 1 interest rate cut to 2, although they are not as eager as the markets. Although the ECB is acting in line with the markets and does not give clear signals for September (data-driven follow-up), the possibilities are getting quite strong. On the BoE front, the CPI data provided a slight postponement of expectations. The daily loss for the parity, which closed at 1.2940 on the previous trading day, was 0.03%. The RSI indicator for the parity, which is below its 20-day moving average, is at 64.06, while its momentum is at 101.56. The 1.2960 level can be followed for intraday upward movements. If this level is passed, resistance levels of 1.2980 and 1.2993 may become important. In case of possible pullbacks, 1.2914 and 1.2894 will be monitored as support levels. Support: 1.2914 – 1.2894 Resistance: 1.2960 – 1.2980