FXEM - EMPIRE MARKETS - Company New Article

The British pound has been trading volatile around 1.2919, as the pair remains under selling pressure following disappointing economic data from the United Kingdom.

• Important pivot area: 1.2880 – 1.2850, where buying interest could emerge if the price continues to decline.
• Potential resistance range: 1.2950 – 1.2980, which represents a barrier to continued upward movement.

Continued downside pressure could push the price to test lower levels, especially if economic data continues to point to a slowdown in the British economy.

The euro continues its attempts to stabilize after the slight improvement in manufacturing PMI data, but it still faces challenges in achieving strong gains.

• Important pivot area: 1.0760 – 1.0730, where buying power could emerge to support the recovery.
• Potential resistance range: 1.0830 – 1.0855, which could limit any further advance.

Any positive signals from the European Central Bank regarding the future of monetary policy could boost the euro, but economic concerns could keep it under pressure.