Ready to Get Started?
Start here. Join over 3M Libertex users around the world!
GBP/USD Tests New Highs, Continues to Push Above Key Resistance
GBP/USD has continued its bullish run, trading at 1.32207 as it attempts to solidify its position above the critical resistance level of 1.3135, which it successfully breached four sessions ago. The pair's ability to stay above this key level indicates strong underlying momentum, with the market now focusing on whether it can force a decisive move higher.
This sustained strength in GBP/USD comes as market expectations grow that the Federal Reserve will begin cutting interest rates as early as September 2024. Fed Chair Jerome Powell's recent comments have reinforced a dovish outlook, with inflation cooling and economic growth slowing, creating a favorable environment for the British pound to continue its upward trajectory against the US dollar.
Market News
All News-
All change now as Nasdaq 100 futures fall into the red
The noted gains for the Nasdaq 100 futures earlier this morning have now been erased. The reason for that was as noted in the previous update, noting...
-
S+P 500 futures slip after UPS and GM delay guidance
We have seen decent earnings reports from UPS and GM just now and whilst both have beaten forecasts on the top and the bottom line, they have both...
-
Dow Jones futures still pricing a higher opening
As covered here earlier, the Dow Jones was the best performing major US stock market yesterday and right now it looks like being the best on the...
