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Cable ticked higher and hit new highest since Feb 2 in early Monday but was so far unable to sustain gains, keeping the price within congestion which extends into fourth straight day. A double Doji (Fri/Thu) signal indecision as daily studies are mixed and keep near-term price action between 200DMA (1.2564) and falling 10DMA (1.2638). […]

The post GBP/USD: Limited Recovery Warns of Prolonged Sideways Mode appeared first on Action Forex.

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15/04/2024

U.S. Retail Sales Rebound in February

Retail sales rose by 0.7% month-on-month (m/m) in March, adding to February’s upwardly revised 0.9 % gain (previously 0.6%). The increase was higher than the consensus forecast calling for a more modest increase of 0.4% Trade in the auto sector was down -0.7% m/m, reflecting a decline at motor vehicle dealers (-0.9%), which was only […]
12/07/2024

GBPJPY Hits 20-Day SMA After Multi-Year High

GBPJPY may start bearish correction Stochastics move down; RSI ticks up GBPJPY suffered significant losses following an aggressive rally to the multi-year high of 208.10. The pair found immediate support at the 20-day simple moving average (SMA) of 203.80, keeping the bias bullish for now. Technically, the stochastic oscillator is diving from the overbought region; however, the RSI is […]
26/04/2024

GBPAUD Wave Analysis

GBPAUD reversed from support level 1.9135 Likely to rise to resistance level 1.9360 GBPAUD currency pair recently reversed up from the pivotal support level 1.9135, which has been reversing the price from the start of April, intersecting with the lower daily Bollinger Band and the 50% Fibonacci correction of the previous upward impulse 1 from […]