ONLINE FOREX BROKER
2020-12-17 • Updated
GBP/USD has just broken the key resistance of 1.3600. What’s next?
The Bank of England has held the last meeting this year, where it left rates unchanged and maintained its pledge for more quantitative easing. The central bank emphasized that the economic outlook is still "unusually uncertain” but mentioned that the vaccine rollout should limit downside risks to the economy.
According to Tony Connelly, RTE Europe Editor, the Brexit agreement may be reached as soon as this weekend. The EU-UK sides made a compromise over the level playing field, but assess to fishing waters remains the mains ticking point.
GBP/USD surged to the 1.3600 level, which was unseen since April 2018. The way up to the next resistance of 1.3650 is clear. If the pair manages to break it, it may rise to the next round number of 1.3700. On the flip side, the move below yesterday’s low of 1.3450 will drive the pair lower to the next support of 1.3400.
The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
Last Friday’s NFP was disappointing. The reaction of the markets was astonishing. Will it last longer? Let's find out the main trade opportunities for the upcoming week.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
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