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In a significant turn of events, the GBP/USD pair, often referred to as ‘Cable’, reversed sharply to the downside in the last 24 hours. This movement was characterized by the price decisively breaking through the corrective channel’s support line, signaling a strong bearish momentum among traders. The current landscape suggests a bearish impulse in progress, […]

The post Cable’s Sharp Decline after Higher Inflation in the US appeared first on Action Forex.

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19/12/2023

USD/JPY and NIKKEI React to Bank of Japan Decision

This morning, the Bank of Japan decided to leave interest rates unchanged at -0.10%. Its head, Kazuo Ueda, stated that: → the chances that the current ultra-loose monetary policy will change in January are very small; → further decisions of the Bank of Japan will be based on incoming economic information. Thus, rumors that the […]
24/06/2024

Crypto Dive

Market picture Along with the rest of the cryptocurrency market, Bitcoin is pulling back further into the area of last month’s lows. The sell-off intensified with the start of the new week, pushing total capitalisation back 3.6% in 24 hours to $2.26 trillion, which we last saw on May 13. Particularly worrying is the rather […]
03/01/2024

GBP/USD Dips Again, 200 SMA Is The Key To Fresh Increase

Key Highlights GBP/USD started a downside correction from the 1.2825 resistance. It traded below a key bullish trend line with support at 1.2715 on the 4-hour chart. EUR/USD also corrected lower below the 1.1020 support zone. The US ISM Manufacturing Index could increase slightly from 46.7 to 47.1 in Dec 2023. GBP/USD Technical Analysis The […]