GBPUSD

With the conclusion of data releases and the onset of the Thanksgiving holiday in the US, a calm atmosphere prevails in the markets. The US PCE inflation data and 3rd quarter growth figures came in line with expectations. There is a notable slight annual increase on the PCE front, yet the uncertainty persists regarding whether the Fed will cut rates in December. Consequently, a partial rise is observed in the GBPUSD pair due to the weakness of the dollar. While tranquility is expected in the markets due to the holiday in the US, the Fed's next steps and dollar movements will be important for the pair.

Technically, the GBPUSD pair continues its movement with reaction purchases above the 1.2614 - 1.2640 region, which are the 34 and 55-period moving averages. The resistance levels of 1.2715, 1.2770, and 1.2820 are crucial in upward movements. Although the pair fell by 0.15% yesterday, the RSI indicator is at a neutral level. If the pair manages to hold above the averages, an increase up to the resistance levels may be observed. However, due to the main trend remaining below the 233-period average, the overall outlook continues to be negative. In downward movements, the 1.2614 support level is critically important.