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UK retail sales jump 1.3%, GDP contracts by 0.1% US to release PCE Price Index on Friday The British pound is drifting on Friday. In the European session, GBP/USD is trading at 1.2701, up 0.08%. UK retail sales rebound but GDP contracts UK retail sales jumped 1.3% in November m/m, bouncing back from 0% in […]

The post GBP/USD Shrugs After Mixed UK Data appeared first on Action Forex.

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01/04/2024

EURUSD’s Recent Bearish Tendency to be Tested this Week

EURUSD trades sideways in anticipation of this week’s key market events It remains below the various simple moving averages employed Momentum indicators support the current bearish move EURUSD is moving sideways today amidst a quieter start of the week due to the Easter Monday holiday observed in Europe. EURUSD has been on the retreat after […]
01/08/2024

WTT: Top Trade Ideas for August

For the month of August, I have my eyes set on three pairs for my swing trading opportunities during the course of the month. Asides these three, most of my other trade ideas will be executed on lower timeframes, and with more conservative targets in mind. Do note, as always, that these are my personal […]
31/05/2024

GBP/USD Dips While USD/CAD Eyes More Gains

GBP/USD is attempting a recovery wave from 1.2680. USD/CAD is rising and might aim for a move above the 1.3690 resistance zone. Important Takeaways for GBP/USD and USD/CAD Analysis Today The British Pound started a fresh decline from the 1.2800 resistance zone. There is a key bearish trend line forming with resistance near 1.2740 on […]