GBPUSD: Will the price continue to rise?
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Hello everyone, it's great to see you all again for our conversation today! Currently, GBPUSD is trading around the level of 1.250 and remains within the range of bullish prices.
In the second half of the day, the economic data from the United States will display the Durable Goods Orders for October and the weekly Initial Jobless Claims. If the number of initial claims for unemployment benefits continues to rise, the US Dollar (USD) may struggle to find demand. In the case where risk aversion takes precedence after the opening bell, USD could weaken against other currencies, acting as a favorable tailwind for the GBPUSD pair to continue its upward trend.
In the second half of the day, the economic data from the United States will display the Durable Goods Orders for October and the weekly Initial Jobless Claims. If the number of initial claims for unemployment benefits continues to rise, the US Dollar (USD) may struggle to find demand. In the case where risk aversion takes precedence after the opening bell, USD could weaken against other currencies, acting as a favorable tailwind for the GBPUSD pair to continue its upward trend.
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