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GBPUSD reversed from support level 1.2500 Likely to rise to resistance level 1.2720 GBPUSD currency pair continues to rise after the earlier upward reversal from the support level 1.2500 (which also reversed the pair in May) coinciding with the lower daily Bollinger Band and the daily down channel from September. The upward reversal from the […]

The post GBPUSD Wave Analysis appeared first on Action Forex.

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19/11/2024

GBP/USD Struggles Ahead: Will It Break Through Key Levels?

Key Highlights GBP/USD extended losses and tested the 1.2600 support. A connecting bearish trend line is forming with resistance at 1.2700 on the 4-hour chart. Bitcoin started a consolidation phase near the $90,000 zone. Oil is correcting losses and trading near the $69.50 zone. GBP/USD Technical Analysis The British Pound started a fresh decline below […]
03/12/2024

Brent Oil Prices Dip Ahead of Crucial OPEC+ Meeting

Brent crude oil prices have declined to 71.65 USD per barrel as the commodity market remains tense ahead of this week’s postponed OPEC+ meeting, now rescheduled for Thursday, 6 December. The market is concerned about the direction of future global oil supply amid fears of oversaturation. The prevailing expectation is that OPEC+ might delay its […]
25/06/2024

Dollar Index: Bullish Bias Above Daily Cloud, US Inflation Data in Focus

The dollar index regained traction on Tuesday and ticked higher after dropping 0.4% on Monday. Pullback was contained by daily cloud top and marked a light correction of a larger uptrend, which remains intact. Technical picture on daily chart remains bullish, as MA’s are in bullish setup, positive momentum is strong and price action underpinned […]