GBPUSD analysis week 1

🌐Fundamental Analysis
UK macroeconomic and consumer credit data earlier in the week came in below expectations, but received little attention. Meanwhile, the US business survey kept investors optimistic, with the ISM manufacturing PMI hitting a nine-month high, albeit below forecasts, suggesting a slowdown in manufacturing inflation and continued job cuts.

There is little major economic data coming from the UK next week. The US is closed for a holiday on Thursday, and the first non-farm payrolls (NFP) report of 2025 will be released on Friday.

🕯Technical Analysis
GBPUSD has recovered from 1.263 and is heading towards the key resistance level of 1.248. The 1.248 area is a confluence of EMAs, trendlines and an area where the bears have a complete advantage over the buyers. The 1.260 area will be the weekly resistance area on any breakout above 1.248. On the other side, the area accepted by the buyers last week at 1.236 becomes the immediate support area for the pair. The main support area for next week is around 1.222 on a breakout above the temporary support area.

📈📉Trading Signals
BUY GBPUSD 1.222-1.220 SL 1.218
SELL GBPUSD 1.248-1.250 SL 1.252