FXEM - EMPIRE MARKETS - Company New Article

The British pound is trading at 1.2883, as it continues to move in an upward range supported by the decline in the strength of the US dollar. The price is holding near key resistance levels, and if it is broken, we may see further gains towards 1.2900 and then 1.2950. On the other hand, any selling pressure may push it down towards 1.2840 as the first support, followed by 1.2800. The markets are awaiting any comments from the Bank of England or economic data that may affect the upcoming trend.

The euro is trading at 1.0786, benefiting from the weakness of the US dollar amid expectations of new monetary moves from the Federal Reserve. If the positive momentum continues, the pair may face resistance at 1.0800, and if it is broken, it may target 1.0830. In case of a downside correction, the first support is at 1.0750, followed by 1.0720. Markets are awaiting any new economic signals that may affect the pair’s movements.