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Key Highlights GBP/USD is attempting to recover from the 1.2840 support zone. A connecting bearish trend line is forming with resistance at 1.3020 on the 4-hour chart. EUR/USD could gain bullish pace if it clears the 1.0920 resistance. Bitcoin bulls aim for a fresh move above the $70,000 resistance. GBP/USD Technical Analysis The British Pound […]

The post GBP/USD Recovery Potential: Can The Pound Rebound? appeared first on Action Forex.

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08/01/2024

EUR/USD Attracts Some Buyers to Mid-1.0900s, Investors Await Eurozone Retail Sales Data

EUR/USD holds positive ground near 1.0948 despite the rebound of USD. US Nonfarm Payrolls (NFP) increased by 216,000 jobs in December from 173,000 in November. German Retail Sales for November came in worse than expected, falling to 2.4% YoY vs. a -0.1% drop prior. German Trade Balance and Eurozone Retail Sales for November are due […]
15/01/2024

Dollar Index: Firmer Tone Keeps in Play Hopes for Test of Near-Term Range Top

The dollar index keeps positive tone in holiday-thinned Monday’s trading and attempting again through pivotal Fibo barrier at 102.27 (50% retracement of 104.27/100.29 bear-leg), where the action failed several times recently. Sustained break here to improve near-term picture and shift focus to the upside for potential attack at key barriers at 102.74/84 (recent range top […]
11/12/2024

USD Strengthens as ECB Rate Cut Looms

Fundamental Analysis The USD’s revaluation on Tuesday, December 10, 2024, is largely driven by expectations of a 25 basis point rate cut by the European Central Bank (ECB), which would weaken the euro. Markets have already priced in this adjustment, putting pressure on EUR/USD, which has dropped near 1.0520. The ECB’s expansionary monetary policy, contrasted […]