GBPUSD parity was able to draw attention to the positive pricing behavior it has done in the last period. In the case where the short-term positive expectation is supported by the Alligator indicator, the 1.2760 barrier is a critical resistance point. In order to play an active role in the current view of the parity, prices above 1.2760 are required. Otherwise, jamming between 1,2760 and 12680 may occur. However, it should be remembered that the main trend is positive even if this jam is followed.
Today, CB Consumer Confidence data from the USA and FOMC Member Williams and Fed President Powell will be the speech. It is especially important for the GBPUSD parity to close the day before the President signs a new signal for the interest rate cut.
Main scenario: If GBPUSD parity remains on the 1.2680 support point, it may want to continue with the positive trend expectation. With this idea, the rise towards the resistance points at 1.2815 and 1.2865 can be observed. In particular, permanent movements above 1,2760 can enhance the positive appearance. Otherwise, the withdrawal towards 1.22680 support may be followed.
Alternatively scenario: The GBPUSD parity needs to break down to 1.2680 in order to end the positive trend view. However, with this condition, 1.2265 and 1.2255 and especially 1.2645 can be traced back to the levels.
Support: 1,2715 – 1,2680 – 1,2645
Resistance: 1,2760 – 1,2815 – 1,2865