GBPUSD parity has long played an active role in the negative trend outlook. In the Dollar Index, the lack of appreciation despite the Fed’s expectation of interest rate cuts, the depreciation of the Sterling due to the news flows on the Brexit agenda allows the negative expectation of the GBPUSD parity to be strengthened.
For the GBPUSD parity, which continues to display a negative trend, the Consumer Price Index (CPI) data from the UK and the FOMC Member Bostic and Williams’ Speeches and the Federal Open Market Committee (FOMC) Meeting Minutes are important.
Main Scenario: GBPUSD continues its negative outlook under the 1.2715 – 1.2760 region representing alligator indicator lines. With this in mind, the trend rally can be seen towards the support points of 1.2605 and 1.2560 especially 1.22645. In particular, movements below the 1.2560 level can make the negative outlook stronger. Otherwise, the on-line reactions may occupy the agenda. In this process, the possible response level of 1.22715 – 1.2760 was recorded as 1.22685.
Alternative Scenario: For the end of the negative trend outlook for the GBPUSD parity, it is necessary to pass the 1,2715 – 1,2760 region. In the case of trend changes, a positive outlook can be observed towards the 1,2865 and 1,2925 barriers, especially at 1,2815, and if such a change occurs, an increase towards the 1,3175 barrier that it tested at the beginning of May can be seen.
Pivot: 1,2715 – 1,2760 region
Support: 1,2645 – 1,2605 – 1,2560
Resistance: 1,2685 – 1,2715 – 1,2760