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Key Highlights GBP/USD started an upside correction from the 1.2500 support. It cleared a key contracting triangle with resistance at 1.2600 on the 4-hour chart. Bitcoin tested the $91,000 zone before the bulls appeared. USD/JPY declined heavily below the 153.50 and 152.00 support levels. GBP/USD Technical Analysis The British Pound found support near 1.2500 against […]

The post GBP/USD Eyes Comeback: How Long Can It Hold? appeared first on Action Forex.

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29/05/2024

Australian Dollar Hits 0.6650 Amid Mixed Economic Signals

The AUD/USD pair rose to 0.6650 on Wednesday following the release of Australian economic data. Australia’s consumer price index (CPI) accelerated to 3.6% year-on-year in April, up from 3.5% in March. This slight increase in inflation could prompt questions about the Reserve Bank of Australia’s (RBA) future interest rate decisions. Despite the uptick in inflation, […]
30/04/2024

Canada’s Economy Continued to Grow in February, No Growth Expected in March

The Canadian economy grew for a second straight month in February, up 0.2% on a month-on-month (m/m) basis. This print comes in slightly below Statistics Canada’s advanced guidance and market expectations for a 0.4% and 0.3% m/m gain, respectively. The flash estimate for March points to flat growth. February’s reading was broad-based, with output expanding […]
27/01/2024

Sunset Market Commentary

Markets European bond markets still opened stronger in the wake of yesterday’s unconvincing press conference by ECB President Lagarde. The move lacked momentum though with first individual ECB members sounding more hawkish than Lagarde did. We must admit that it weren’t the most high-profile representatives though. Latvian ECB Kazaks admits that rates should start to […]