GBPUSD looking to continue the rally
Cable remains upbeat after jumping over 200 pips at the backend of last week.
- Interest rate decisions from the Bank of England and the Fed propelled the pair higher.
- This week’s ISM and Non-Farm data will look to get the dollar back on track.
- Any chance of a continuation to the recent upward movement sees 1.3550 being a firm top.
- Exhaustion on the pair could lead to a full reversal towards the 1.3300 region.
USOIL remains volatile
Crude oil looks for its next direction as this reflects mounting concerns on global demand.
- Escalating tensions are not helping, as these frictions have heightened fears of a slowdown in economic activity.
- Continuous peace talks, interrupted by further conflcit, could see prices move higher.
- The new week brings a new month, with hopes of some resolution.
- 80.00 is a critical support and 93.00 the first resistance.
SPX 500 looks for another record
The S&P 500 climbed to another fresh high with earnings season being the gift that keeps on giving.
- With big tech stocks announcing their corporate earnings last week, we saw an extension of gains with indices across the board.
- With every bull rally comes a correction, but how and when remains to be seen.
- Until then, the index is heading towards 7550 with 7300 as the closest support.
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