GBPUSD

The GBP/USD pair may be influenced by significant developments in the economic calendar this week. On Wednesday, the US inflation data will be released, followed by the ECB's interest rate decision and President Lagarde's speech on Thursday, and the UK's growth figures on Friday will be closely monitored by the markets. The increase in short-term inflation expectations among US consumers and the decline in gasoline prices could affect the dollar's volatility. Additionally, the ECB’s stance on interest rate cuts and movements in the Classic Dollar Index will also impact the direction of the GBP/USD pair.

Technically, the GBP/USD pair is trading above the 1.2707 support level on the 1-hour chart. In its upward movement, resistance levels at 1.277 and 1.282 can be followed. On the downside, levels at 1.266 and 1.261 may provide support. The RSI indicator is at 52, exhibiting a neutral outlook. A limited decrease of 0.01% compared to the previous day is observed in the pair. A consolidation between 1.2707 - 1.282 could be watched, but sustained movements above 1.2820 could indicate a weakening of the negative trend.