Logo-color Logo-white

Cable accelerated lower and cracked psychological 1.30 support, to hit the lowest in almost two months in early Wednesday. Sterling was down 0.8% in immediate reaction to economic data which showed that UK inflation fell more than expected in September and dipped below BoE’s 2% target, adding to bets for more rate cuts towards the […]

The post GBP/USD: Dips Below 1.3000 on Weaker Than Expected UK CPI Numbers appeared first on Action Forex.

previous

EUR/USD Continues Downward Amid Economic Uncertainties

next

Sunset Market Commentary

Read More

05/08/2024

Gold Rally in Question

Gold is lower today, but close to recent highs Geopolitics and dollar underperformance support gold Momentum indicators are tentatively bullish Gold is trading lower again today, recording its third consecutive red candle, but remaining a tad below its recent all-time high. It is currently testing the upper boundary of the rectangle that has been defining […]
07/03/2024

Gold XAU/USD Sets a Historical Record Exceeding $2160 per Ounce

The previous high was around USD 2,135, but gold rose above USD 2,160 an ounce this morning, reaching its highest level ever, as Treasury yields weakened on hopes that the US Federal Reserve will soon begin cutting interest rates. In a speech yesterday, the Fed chief offered no clarity, saying it would likely be appropriate […]
02/02/2024

GBPJPY Ticks Up in BoE Aftermath

GBPJPY pauses its slide from a fresh 8½-year high Broader long-term uptrend remains in place RSI and MACD soften but remain positive GBPJPY has been in a prolonged uptrend since early 2023, posting a fresh 8½-year high of 188.91 on January 19 before experiencing a setback. However, in the past couple of sessions, the pair managed to halt its […]