GBPUSD

In global markets, US President Trump's tariffs on Mexico, Canada, and China have heightened concerns over trade wars, leading to a volatile start in the markets. This situation has contributed to the US dollar remaining strong against both developed and emerging market currencies. Canada and Mexico's search for countermeasures provided some relief against the dollar. In the UK, the Bank of England's interest rate decision and significant employment data from the US could impact the GBPUSD pair. The expected JOLTS data from the US and the speeches from Fed officials also sustain the strength of the dollar.

Technically, the GBPUSD pair is at the level of 1.23921, demonstrating a decrease of -0.46%. On the chart, the levels of 1.236 and 1.2315 are followed as support, while the levels of 1.244 and 1.248 are considered resistance. If the pair fails to surpass the 1.244 – 1.248 resistance zone, the tendency to pull back towards the 1.236 – 1.2315 support levels may continue. The RSI indicator does not exhibit a positive outlook, indicating the weak trajectory of the pair. For the GBPUSD to recover, it is crucial to break through the upper resistance zones.