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Against a local decline in the US currency, the GBP/USD pair is correcting at 1.2400. The pound shows a neutral trend after the controversial statements of the UK Treasury Secretary Jeremy Hunt.

The official fully supported the draft tax reform, which was unveiled last year, and called on retired citizens to return to work since, according to him, the only way to reduce inflation is to increase labor productivity, for which it is necessary to increase the number of new vacancies in economics. This statement has been criticized by some experts who believe that in the current situation, on the contrary, it is necessary to reduce taxes and not encourage people to correct the government's mistakes.

The US currency maintained its dynamics on Friday, holding around 101.600 in the USD Index and practically not reacting to data on household spending indices, which are expected to fall for the fifth month in a row. Thus, personal spending lost 0.2% in December after falling by 0.1% earlier, while personal consumption spending rose by only 0.1%, which led to a slowdown in annual growth to 5.0% from 5. 5% earlier. The core price index for personal consumption expenditures also corrected to 4.4% from 4.7%, which supports the general downward trend in US consumer activity.

On the daily chart, the trading instrument is moving within a local ascending corridor, holding near the last year's high at 1.2440.

Technical indicators slightly weaken the buy signal: the range of fluctuations of the EMA on the Alligator indicator is kept at stable levels, and the histogram of the AO oscillator forms rising bars above the transition level.

Resistance levels: 1.2500, 1.2800. | Support levels: 1.2260, 1.1900.