GBPUSD

The GBP/USD pair started the week with limited trading volume due to the Thanksgiving holiday in the US. While markets are focusing on ceasefire talks between Israel and Lebanon, the busy data schedule in the US is also being closely monitored. In particular, the CB Consumer Confidence and FOMC Meeting Minutes data could affect the course of the dollar. The recent rise in the Dollar Index is increasing pressure on the GBP/USD and continues the weakening trend in the sterling.

Technically, the GBP/USD pair is tracking negatively below the 34 and 55-period exponential moving averages (1.2607 - 1.2650 range). The pair is declining towards the 1.2520 support level, and if it breaks below this level, the 1.2485 and 1.2445 levels may be monitored. On upward movements, the 1.2607 and 1.2650 resistance levels are important. The RSI indicator is at level 40, presenting a negative outlook in the market. The pair is weak, having depreciated by 0.12% compared to the previous day.