FXEM - EMPIRE MARKETS - Company New Article

The British pound is trading sideways as the anticipation in British markets continues, especially in light of the absence of major economic data this week. Potential comments from Bank of England officials could move the market, especially if they indicate changes to interest rate policy.

🔺 Expectations:

If the 1.3250 level is broken, we may see an extension of the rally towards 1.3300, while a continued decline below 1.3180 could push it towards 1.3120 in the short term.

The euro continues to decline as weak economic data from the eurozone continues to be released, increasing pressure on the European Central Bank, which remains cautious regarding interest rates. Markets await inflation data, which may determine the next pace of monetary policy.

🔺 Forecast:

If it stabilizes above 1.1120, it may retest 1.1160, while a break of 1.1080 may open the way for a return to 1.1020 in the coming days.