GBPUSD

The GBP/USD pair is trading sideways due to the limited declines in the Dollar Index (DXY). The tendency of the DXY to remain above the 34-day moving average restricts the pair's upward movements. Notably, the upcoming PMI data and the Bank of Japan's interest rate decision are among the important factors that could determine the pair's weekly trend. Data on unemployment claims from the US and President Trump's speech at the World Economic Forum may also influence the direction of GBP/USD.

From a technical analysis perspective, the GBP/USD pair is currently at the level of 1.23144 and is under pressure below the 55-period moving average. In downward movements, the support levels of 1.227, 1.223, and 1.2185 should be monitored. In upward movements, the resistance levels of 1.236, 1.24, and 1.244 become significant. The RSI indicator shows a neutral outlook, indicating uncertainty in the market. The pair has shown a slight decline of 0.013% compared to the previous day.