FXEM - EMPIRE MARKETS - Company New Article

The GBP continues to move near the 1.2834 level, amidst market volatility awaiting important economic data that may affect its upcoming trends. The continued strength of the US dollar may put downward pressure, while any positive signals from the British economy may support the upward trend. Nearby support levels are at 1.2800, while the most important resistance is at 1.2870.

The EUR/USD pair is trading at 1.0699, amidst increasing selling pressure as the US dollar continues to strengthen. The pair faces a support level at 1.0680, and if broken, the decline may extend towards 1.0650. On the other hand, any recovery may push the price to test the resistance at 1.0725 and then 1.0750. The euro’s movements remain linked to the expectations of the US monetary policy and the economic data coming from the Eurozone.