FXEM - EMPIRE MARKETS - Company New Article

The British pound saw positive movements during today's trading, stabilizing near 1.2994, supported by a weaker US dollar and weaker recent economic data. Markets continue to await monetary policy decisions from the Bank of England and their impact on the currency's direction.

Overall trend: Upward in the short term

• Strong pivot area: 1.2950 – 1.2920
• Important upside barrier: 1.3020 – 1.3050

A break above the upside barrier could boost sterling's gains and push it towards 1.3050, while a break above the pivot area could re-introduce selling pressure, potentially pushing it to test lower levels.
If the dollar continues to weaken and expectations of a UK interest rate hike increase, we may see a continued rise towards 1.3050. However, positive US data could lead to some corrective pullbacks.

The EUR/USD pair saw positive movements during today's trading, rising to 1.0944, benefiting from the dollar's decline as markets await US interest rate decisions and their impact on investor sentiment.

Overall Trend: Upward in the Short Term

• Important Pivot Area: 1.0900 – 1.0880
• Major Upward Barrier: 1.0970 – 1.1000

If the EUR manages to surpass 1.0970, it could open the way for further gains towards 1.1000, while remaining below 1.0900 could lead to bearish corrections. With the dollar continuing to weaken and expectations of a Fed rate cut growing, the euro may continue its gains towards 1.1000, but any strong US data could push it back to the 1.0900 range.