The British pound has increased in value over the course of the past week in line with an ongoing improvement in investor sentiment.
The risk-on sentiment pushes USD/JPY and USD/CHF higher
Information is not investment advice
The trade talks between the US and China have been optimistic for now. Reportedly, China has agreed to buy record volumes of pork from the United States. Also, Chinese Vice Premier Liu He said that China was willing to reach an agreement to prevent further escalation of the trade war.
- USD/JPY broke the upper border of an ascending trendline and tested the 107.96 level. The next resistance will lie at 108.07. If the pair reverses, it will face the support at 107.54 (100-period SMA). After that, the next support will be placed at 107.35.
- USD/CHF tested the highs above the 0.9965 level. If this level is broken, the next resistance will lie at 0.9985. From the downside, support levels are 0.9925, 0.9917 and 0.9907.
Economic activity in service sector in the Euro zone and the UK is on its lowest rates since 2009.
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