GBPUSD

The GBP/USD pair experienced a volatile week with the release of significant economic data. Markets are acting cautiously, especially ahead of the US Non-Farm Payrolls data. In the US, stock trading will be closed due to the funeral of former President Carter, which might result in low-volume transactions in the market. While the dollar maintains its strong stance, the speeches of Fed officials are being closely followed in the markets. The pound shows a more resilient profile compared to the euro, but had a weak start against the US dollar.

From a technical perspective, the GBP/USD pair is currently trading at the 1.2335 level. The support levels are tracked at 1.2315, 1.2270, and 1.2230, while resistance levels are monitored at 1.2360, 1.2400, and 1.2440. The RSI indicator is at level 40, depicting a negative outlook. The pair has depreciated by 0.22% compared to the previous day. If the 1.2270 level is breached downwards, the decline could deepen. However, a consolidation between 1.2270 and 1.2485 could also occur.