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This morning, UK inflation data was released, as reported by ForexFactory: Consumer Price Index (CPI): actual = 2.5%, expected = 2.6%, previous = 2.6%; Core CPI: actual = 3.2%, expected = 3.4%, previous = 3.5%. The foreign exchange market reacted with a surge in volatility as UK inflation showed a decline. At the same time, […]

The post GBP/USD Analysis: Bulls Find Renewed Hope appeared first on Action Forex.

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28/12/2023

GBP/JPY Price Analysis: Pound Breaks Trendline Support and Tests 180.00 Area

The Sterling breaks trendline support to test the 180.00 level. The Pound looks vulnerable against a stronger Yen. Below 180.00 the target will be October and November lows at the 178.10/30 area. The Sterling has broken below the bottom of the last three weeks’ triangle pattern, at 181.80, weigher by broad-based Yen strength, and is […]
12/06/2024

EURGBP Prints New 22-Month Low

EURGBP continues to fall after bearish gap Price shifts neutral outlook to negative MACD and RSI hold in oversold regions EURGBP opened with a significant bearish gap on Monday after the European elections on Sunday, sending the pair towards a fresh 22-month low of 0.8416. The pair is holding well below the medium-term trading range […]
16/09/2024

EUR/USD Could Trim Gains and Drop: Here’s Why

Key Highlights EUR/USD attempted another increase from the 1.1000 support. A major bearish trend line is forming with resistance at 1.1110 on the 4-hour chart. Gold rallied to a new all-time high above $2,580. USD/JPY extended losses below the 141.20 support. EUR/USD Technical Analysis The Euro found support near the 1.1000 zone against the US […]