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Cable bounces from new multi-month low on Tuesday, boosted by better than expected UK services PMI data and hawkish stance from BoE policymakers, who signaled that rate cut might be delayed, as the central bank sees too early cut more harmful than to start easing policy too late. Brightened near-term outlook so far lifted the […]

The post GBP/USD: Cable Bounces After Solid Data/Hawkish BoE appeared first on Action Forex.

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19/08/2024

Gold (XAU/USD) Eyes Consolidation Above $2500/oz. Will Bulls Hold the Line?

Gold prices surpassed the $2500/oz level on Friday despite a decrease in the likelihood of a 50 bps cut at the Federal Reserve’s September meeting. The rally in gold prices is attributed to dovish remarks by Federal Reserve policymakers and concerns over rising tensions in the Middle East. From a technical standpoint, the weekly chart […]

EURUSD Tests 1.1050 Tricky Area

EURUSD flirts with 8-month high again Remains well above the long-term symmetrical triangle 50- and 200-day SMAs ready for bullish cross Momentum oscillators confirm upside move EURUSD has been in a bullish move, especially after the rally above the long-term symmetrical triangle last week. The pair is again battling with the almost eight-month high of 1.1050, with […]
06/09/2024

Gold Wave Analysis

Gold reversed from support level 2475.00 Likely to rise to resistance level 2535.00 Gold recently reversed up from the support level 2475.00 (former monthly high from July, which has been reversing the price from August) standing near the 38.2% Fibonacci correction of the upward impulse C from the start of August. The upward reversal from […]