FXEM - EMPIRE MARKETS - Company New Article

The British pound is moving in a relatively stable range with a slight upward bias, facing an important retracement zone between 1.2900 and 1.2870, which could reinforce buying momentum if tested. On the upside, a key hurdle at 1.2980-1.3000 represents a barrier to extending gains.

Influencing Factors:

• Today: Markets await UK GDP data, which could influence the Bank of England's monetary policy stance.
• Investors continue to assess monetary policy and its impact on the performance of the British pound.

The euro remains stable above a key support area at 1.0750 – 1.0730, which could maintain upward momentum. Conversely, it faces a strong resistance area at 1.0810 – 1.0830, which could limit any further gains in the near term.

Influencing Factors:

• Today: Eurozone inflation data is due, which could influence interest rate expectations from the European Central Bank.
• Continued US dollar volatility and its impact on the pair's movements.