GBP/USD is trading at $1.25975, up 0.56%, as it tests the pivot point at $1.26072. Immediate resistance stands at $1.26617, with further levels at $1.27153 and $1.27714 if the pair gains bullish traction. On the downside, support is found at $1.25537, with additional cushions at $1.25061 and $1.24569.

The 50 EMA at $1.26106 aligns closely with the pivot, reinforcing its importance as a tipping point. A break above $1.26072 could drive further bullish momentum, while a failure to hold may signal a bearish reversal.

Euro Dips as PMI Data Misses Expectations

The Euro (EUR) struggled on weak economic data. German Final GDP q/q stagnated at 0.1%, while French and German PMI figures fell below forecasts.

French Manufacturing PMI hit 43.2, below the 44.6 projection, and German Services PMI dropped to 49.4, missing the 51.6 estimate.

Market focus shifts to Monday’s German Ifo Business Climate data at 86.1, down from 86.5, and ECB President Lagarde’s insights on future monetary policy.

EUR/USD Technical Forecast