GBPUSD

Positive inflation data from the US and the drop in core CPI strengthen expectations that the Fed might take steps towards a rate cut sooner. At the same time, weak CPI data in the UK could lead the Bank of England to consider a rate cut. Meanwhile, expectations for four rate cuts from the European Central Bank persist. These factors are causing a volatile trend in the GBP/USD pair. Therefore, data such as industrial production from the US and retail sales from the UK may influence market direction.

When examined technically, the GBP/USD pair continues to stay below the resistance level of 1.2315, maintaining downward pressure. If the pair continues to move below the 1.2185 level, it may test the support levels of 1.214 and 1.21. In upward movements, the 1.227 and 1.2315 levels should be monitored as resistance. The RSI indicator is at the 40 level, showing a negative trend. The pair has lost 0.19% value compared to the previous day's close. A negative short-term outlook is observed.