FXEM - EMPIRE MARKETS - Company New Article

The GBP/USD is trading today at 1.24762, trying to maintain the positive momentum amidst the market volatility. This rise is supported by the relative weakness of the US dollar, along with the improvement in risk appetite in global markets.

Technically, the price is facing strong resistance at 1.2500, as breaking it may push the pair towards 1.2550 as the next target level. On the other hand, the closest support is located at 1.2430, and breaking it may enhance the decline towards 1.2380.

The positive momentum is still present, but the pair's movements will depend on the developments of US economic data and their impact on the Federal Reserve interest rate expectations.

The EUR is trading at 1.04148 today, trying to achieve slight gains as markets await US economic data. The pair remains supported by the relative weakness of the dollar, but gains are limited as caution regarding the Fed’s monetary policy remains.

Technically, the price faces resistance at 1.0450, which could open the way for further gains towards 1.0485 in case of a breakout. Meanwhile, the 1.0380 level is a major support, and a break of it could push the pair towards 1.0350.

Euro moves remain tied to US data developments and monetary policy expectations in both Europe and the US.