GBP/USD climbs above 1.2050 post US data, UK-EU Northern Ireland deal – by christianborjon GBPUSD Majors Macroeconomics Technical Analysis
are a headwind for the greenback. At the time of typing, the GBP/USD is trading at 1.2052, above its opening price by 0.65%.
The US Dollar is weakening across the board on a dismal Durable Goods Orders report. Durable Good Orders for January plunged below expectations, -4.5%, below the last month’s revised 5.1% figures, the lowest reading since April 2020. The so-called core orders excluding transport rose by 0.7%, above December’s -.0.4% drop., a measure of the buck’s value against a basket of rivals, edged down 0.62%, at 104.
Sources on both sides told the BBC that the UK and EU had reached a post-Brexit trade agreement for Northern Ireland. Later, the EU’s President Ursula von der Leyen and the UK Prime Minister Rishi Sunak are expected to host a press conference at around 15:30 GMT. Details on the agreement will be released later.perspective, the GBP/USD formed a bullish engulfing candle, which could send the pair rallying toward the 20-day EMA at 1.2088 before testing the 50-day EMA at 1.2097, shy of the 1.
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