GBPUSD
In the US, recession fears have eased somewhat and markets have generally shown some relief. Although recession concerns have strengthened expectations of aggressive interest rate cuts by the Fed, expectations that the BoE may cut interest rates more quickly left room for the GBPUSD pair to decline. The daily loss for the pair, which closed at 1.2775 on the previous trading day, was 0.02%. The RSI indicator for the pair, which is below its 20-day moving average, is at 44.37, while its momentum is at 98.91. The 1.2798 level can be followed in intraday upward movements. If this level is exceeded, the 1.2821 and 1.2837 resistances may become important. In possible pullbacks, 1.2759, 1.2743 and 1.2720 will be monitored as support levels. Support: 1.2759 – 1.2743 Resistance: 1.2798 – 1.2821