EUR/GBP currency cross has launched yet another bullish impulse. This new movement follows news from the United Kingdom’s latest job report, which underperformed. This change in momentum comes at a critical time. Traders are keenly focused on the ongoing U.S.–China trade negotiations, fully aware that they will heavily influence general market risk.
On the day of the job report release, Coach provided updated levels and objectives for the EUR/GBP pair during the TradeGateHub Live Trading session. The numbers shown above suggest a very strong trend that day traders can ideally take advantage of this new shift. The weaker job data has prompted a shift in sentiment, pushing the currency pair higher as market participants reassess their positions.
The U.K. jobs report, which fell short of expectations, has played a significant role in driving the EUR/GBP upwards. Analysts have noted that this specific economic indicator is worrisome and is a sign of the weakening U.K. labor market’s health. This makes the Euro a much more attractive currency, relatively speaking, than the British Pound.
In addition to currency movements, Dale covered the continuation action in WTI crude oil during the live trading session. This coverage provided valuable insights into how fluctuations in oil prices could impact broader market dynamics. Traders should proceed with caution, as we know that oil prices tend to strongly drive currency price action.
Dale shared insights into Bitcoin’s current movement, highlighting its volatility and potential investment opportunities. Now that cryptocurrencies have been brought into the mainstream conversation, traders are keeping an eye on these digital assets as much as – if not more than – traditional currencies.
Whether or not today’s U.S.–China trade talks yield, drops and discontent in the markets will be one of the most defining aspects of overall market risk. Any positive outcomes from these negotiations would undoubtedly result in more volatility in both currency and commodity markets. Investors are particularly focused on how these negotiations will shape future economic policies and trade relationships.