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Summary Consumer price inflation likely firmed in June relative to May but remained on a downward trajectory through the month-to-month noise. We estimate headline CPI rose 0.1% in June, with a decline in gasoline prices helping keep the overall increase in prices tame. The core index also looks to have rebounded slightly. We expect core […]

The post June CPI Preview: Some Payback for May, but Downward Trend Remains appeared first on Action Forex.

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GBP/USD Strengthens: Analyzing Further Upside Opportunities

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05/07/2024

UK Election: Labour Wins in a Landslide

The UK national election on Thursday propelled the Labour Party to a sweeping victory and Labour leader Keir Starmer will become the next Prime Minister. In the six-week election campaign of the election, Labour had a massive lead in the polls and there was no doubt it would win a huge majority in parliament. The […]
11/04/2024

Cable’s Sharp Decline after Higher Inflation in the US

In a significant turn of events, the GBP/USD pair, often referred to as ‘Cable’, reversed sharply to the downside in the last 24 hours. This movement was characterized by the price decisively breaking through the corrective channel’s support line, signaling a strong bearish momentum among traders. The current landscape suggests a bearish impulse in progress, […]
30/11/2023

GBP/USD: Bulls Loosen Grip Ahead of Key US Data

Cable eases from new three-month high in European trading on Thursday, as daily Doji candle on Wednesday signaled indecision and overbought daily studies prompted a partial profit-taking. Failure to register a daily close above 1.2719 Fibo barrier (61.8% of 1.3141/1.2037) and subsequent weakness add to initial signals of bull trap and increases risk of pullback. […]