The Week Ahead – Looking forward, not backwards

by admin

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.

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.

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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