FXEM - EMPIRE MARKETS - Company New Article

The GBP/USD is trading near the 1.27199 level on the hourly time frame, where it faces strong resistance at 1.2740, which if broken could open the way for further rise towards 1.2780. On the other hand, the support at 1.2690 is an important level, as breaking it could lead to further decline towards 1.2650.

Currently influencing factors include the US dollar movements related to the Federal Reserve’s monetary policy expectations, in addition to any British economic developments that could affect the performance of the GBP. We recommend following the upcoming data to confirm the trend.

The EUR/USD pair is trading at 1.0513, trying to maintain its upward momentum after testing the nearby support levels at 1.0480. Continued stability above this level may push the price towards 1.0540 and then 1.0575 as the next resistance levels. On the other hand, breaking the mentioned support may restore selling pressures and push the price towards 1.0450.

The influencing factors include the US Federal Reserve’s monetary policy directions, in addition to the expected economic data from the Eurozone, which may determine the trading path during the upcoming sessions.